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 July* annual economic growth amounted to 6.5% YoY;
- In July 2025, annual CPI inflation amounted to 4.6% YoY, higher than the inflation target of 3.0%. Annual inflation was predominantly driven by the dynamics of prices on food and non-alcoholic beverages, health, alcoholic beverages, tobacco and transport;
- In July*, general government revenues increased by 15.6% YoY, while expenses increased by 2.7% YoY;
- In July*, commercial bank loans to the national economy increased by 15.5% YoY and amounted to 63,901 million GEL. As for loans issued by types of activity, the highest were issued in construction, trade and industry;
- In January-July*, export of goods increased by 9.0%, while imports increased by 10.8% YoY. As a result, trade turnover amounted to 14,155.8 million USD (10.3% increase YoY);
- In July*, money transfers into Georgia increased by 13.0% YoY and amounted to 337.0 million USD. The main source of money transfers were EU countries (44.3% of total), USA (18.1%) and Russia (13.4%);
- In August 2025, international reserves amounted to 5,204 million USD, which increase on 7.5% YoY and 3.7% MoM;
- In July* 2025 the dollarization decreased on deposits (0.20 PP) and decreased on loans (0.70 PP) MoM;
- In August 2025, GEL appreciated against USD by 0.5%, appreciated against EUR by 1.2% and appreciated against TRY by 2.0% MoM;
- In August 2025, the currencies of the region countries stand out with a tendency of appreciation towards USD, except TRY and GEL.
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