Each month/quarter, PBO issues short macroeconomic reviews. Those monthly/quarterly reviews, which are based on information from the Geostat, National bank of Georgia and Ministry of Finance and use PBO estimations, provide information on the monthly/quarterly status of core macro aggregates.

HIGHLIGHTS

• In Q1 2024, according to preliminary estimate real GDP increased by 7.8%, which is more than the forecasted 7.2% სby the Parliamentary Budget Office.
• In Q1 2024, annual inflation amounted to 0.3%, lower than the inflation target of 3.0%.
• In Q1 2024, positive overall balance of consolidated budget amounted to GEL 233.3 million.
• In Q1 2024, an increasing trend was observed in terms of public debt. The share of external debt in total public debt decreased. Namely, the share of external debt made up 71.9%, while the same indicator in Q1, 2023 was 75.2%.
• In Q4* 2023, current account balance improved. Namely, current account negative balance amounted to USD 559.4 million, 0.2% less YoY.
• In Q1 2024, the amount of international reserves reached to USD 4,776.9 million, 4.5% decrease YoY.
• In Q1 2024, the share of the export in external trade in Goods decreased from 29.1% to 28.2% YoY.
• In Q1 2024, remittances to Georgia decreased by 35.8% YoY and amounted to USD 806.0 million.
• Monetary policy (refinancing) rate decreased to 8.25% at the end of Q1, 2024.
• GEL appreciated against USD by 0.9% QoQ and depreciated by 1.3% YoY.
• Dollarization coefficient decreased on deposits, while increased on loans YoY.

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