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 January* annual economic growth amounted to 5.8% YoY.
- In February, annual CPI inflation amounted to 0.3% YoY, lower than the inflation target of 3.0%. Annual inflation was predominantly driven by dynamics of prices on the clothing transport, alcoholic beverages and tobacco, restaurants, hotels, health, food and non-alcoholic beverages, clothing and footwear etc.
- In January* 2024, general government revenues increased by 13.9 % YoY, while expenses increased by 26.4% YoY.
- In January* 2024, commercial bank loans to the national economy increased by 15.0% YoY and amounted to 50.1 billion GEL. As for loans issued by types of activity, the highest were issued in trade, construction and industry.
- In January*, export of goods decreased by 26.2%, while imports decreased by 10.1% YoY. As a result, trade turnover amounted to 1,341 million USD (14.8% decrease YoY).
- In January*, money transfers into Georgia decreased by 40.8 % YoY and amounted to 263.4 million USD. The main source of money transfers were EU countries (38.1% of total) and Russia (25.7%).
- In February, international reserves amounted to 4,746 million USD, which is a 0.6% increase YoY and 2.2% decrease MoM.
- In January*, the dollarization on deposits remained the same, while decreased on loans MoM.
- In February 2024, GEL appreciated against USD by 0.7%, and against EUR by 1.9%, while appreciated against TRY by 3.2% MoM.
- In February, the currencies of the region countries stand out with a tendency of depreciation towards USD.
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