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 8.2% YoY.
- In April, annual CPI inflation amounted to 1.5% YoY, lower than the inflation target of 3.0%. Annual inflation was predominantly driven by the dynamics of prices on transport, alcoholic beverages and tobacco, restaurants, hotels, education.
- In March* 2024, general government revenues increased by 43.9% YoY, while expenses increased by 7.4% YoY.
- In March* 2024, commercial bank loans to the national economy increased by 18.4% YoY and amounted to 52.0 billion GEL. As for loans issued by types of activity, the highest were issued in trade, construction and industry.
- In January - March*, export of goods decreased by 9.3%, while imports decreased by 5.3% YoY. As a result, trade turnover amounted to 4,699 million USD (6.5% decrease YoY).
- In March*, money transfers into Georgia decreased by 36.5% YoY and amounted to 278.5 million USD. The main source of money transfers were EU countries (41.5% of total) and Russia (19.0%).
- In April, international reserves amounted to 4,814 million USD, which is a 6.2% decrease YoY and 0.8% decrease MoM.
- In March*, the dollarization on deposits decreased, while on loans increased MoM.
- In April 2024, GEL depreciated against USD by 0.2% and against EUR by 1.4%, while appreciated against TRY by 1.3% MoM.
- In April, the currencies of the region countries stand out with a tendency of depreciation towards USD.
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