PBO's Monthly Macroeconomic Review reflects the trends of major macroeconomic variables. The review is based on data from Geostat, National Bank of Georgia and Ministry of Finance.

• According to the GEOSTAT preliminary estimate, in March* annual economic growth amounted to 7.3% YoY. Should be marked high economic growth rates and fast recovery process compared to 2019, pre pandemic period.
• Annual consumer price inflation amounted to 2.7% in April, which was primarily driven by increasing prices on food and non-alcoholic beverages.
• In March*, general government revenues decreased by 4.3% YoY, while expenses increased by 2.6% YoY.
• In March*, commercial bank loans amounted to 43.9 billion GEL. As for loans issued by types of activity, the highest were issued in trade, industry and construction.
• In January - March*, exports increased by 24.7%, while imports increased by 21.0% YoY. Trade turnover amounted to 4,784 million USD.
• In March* money transfers amounted 438.4 million USD. The main source of money transfers are Russia (51.0% of total) and EU countries (23.8%).
• In April, international reserves reached historical maximum and amounted to 5,133 million USD.
• In March*, the dollarization on deposits and on loans decreased MoM.
• In April, GEL appreciated against USD (by 2.5%), while depreciated slightly against EUR (by 0.1%) MoM.

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