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 November* 2022 annual economic growth amounted to 9.3% YoY. Should be marked high economic growth rates and fast recovery process compared to 2019, pre pandemic period.
• Annual consumer price inflation amounted to 9.8% in December, which was primarily driven by increasing prices on food and non-alcoholic beverages.
• In November*, general government revenues increased by 30.7% YoY, while expenses increased by 13.7% YoY.
• In November*, commercial bank loans amounted to 42.8 billion GEL. As for loans issued by types of activity, the highest were issued in trade, industry and construction.
• In January-November*, exports increased by 31.8%, while imports increased by 32.4% YoY. Trade turnover amounted to 17,018 million USD.
• In November* money transfers amounted 521.2 million USD. The main source of money transfers are Russia (60.7% of total) and EU countries (17.6%).
• In December international reserves reached historical maximum and amounted to 4,901 million USD.
• In November*, the dollarization on deposits decreased while on loans increased slightly MoM
• In December, GEL appreciated against USD (by 1.5%), while depreciated against EUR (by 2.3%) MoM

For more details, see the complete document