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* annual economic growth amounted to 7.5% YoY;
- In December, annual CPI inflation amounted to 1.9% YoY, lower than the inflation target of 3.0%. Annual inflation was predominantly driven by the dynamics of prices on food and non-alcoholic beverages, health and transport;
- In November*, general government revenues increased by 9.4% YoY, while expenses increased by 8.9% YoY;
- In November*, commercial bank loans to the national economy increased by 18.9% YoY and amounted to 58.7 billion GEL. As for loans issued by types of activity, the highest were issued in trade, construction and industry;
- In January - November*, export of goods increased by 7.9%, while imports increased by 6.1% YoY. As a result, trade turnover amounted to 21,112.7 million USD (6.6% increase YoY);
- In November*, money transfers into Georgia decreased by 9.6% YoY and amounted to 266.7 million USD. The main source of money transfers were EU countries (44.6% of total), USA (18.8%) and Russia (11.2%);
- In December, international reserves amounted to 4,448 million USD, which is a 11.2% decrease YoY and 7.8 increase MoM;
- In November* 2024, dollarization increased on deposits, while decreased on loans MoM;
- In December, GEL depreciated against USD by 2.7%, depreciated against EUR by 1.2% and depreciated against TRY by 1.2% MoM;
- In December 2024, the currencies of the region countries stand out with a tendency of depreciation towards USD, except AMD and AZN.
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