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 December* annual economic growth amounted to 6.7% YoY;
- In January 2025, annual CPI inflation amounted to 2.0% 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, alcoholic beverages and tobacco, health and education;
- In December*, general government revenues increased by 22.4% YoY, while expenses increased by 35.9% YoY;
- In December*, commercial bank loans to the national economy increased by 18.4% YoY and amounted to 60.2 billion GEL. As for loans issued by types of activity, the highest were issued in trade, construction and industry;
- In January - December*, export of goods increased by 7.8%, while imports increased by 8.1% YoY. As a result, trade turnover amounted to 23,435.3 million USD (8.0% increase YoY);
- In December*, money transfers into Georgia decreased by 8.2% YoY and amounted to 285.4 million USD. The main source of money transfers were EU countries (45.1% of total), USA (19.4%) and Russia (11.0%);
- In January 2025, international reserves amounted to 4,430 million USD, which is a 8.7% decrease YoY and 0.4 decrease MoM;
- In December* 2024, dollarization decreased on deposits, while increased on loans MoM;
- In January 2025, GEL depreciated against USD by 1.1%, appreciated against EUR by 0.1% and appreciated against TRY by 0.4% MoM;
- In January 2025, the currencies of the region countries stand out with a tendency of depreciation towards USD, except AMD and AZN.
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