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* 2025 annual economic growth amounted to 7.2% YoY;
- In January 2026, annual CPI inflation amounted to 4.8% 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 and tobacco;
- In December* 2025, general government revenues increased by 10.7% YoY and expenses by 41.2% YoY;
- In December* 2025, commercial bank loans to the national economy increased by 13.4% YoY and amounted to 68,314.8 million GEL. As for loans issued by types of activity, the highest were issued in construction, trade and industry;
- In January-December* 2025, export of goods increased by 11.2%, while imports increased by 9.7% YoY. As a result, trade turnover (excluding undeclared trade) increased by 10.1% YoY and amounted to 25,820.9 million USD;
- In December* 2025, money transfers into Georgia increased by 18.4% YoY and amounted to 337.9 million USD. The main source of money transfers were EU countries (45.2% of total), USA (18.9%) and Russia (12.9%);
- In January 2025, international reserves amounted to 6,300 million USD, which increase on 42.0% YoY and 2.3% MoM;
- In December* 2025 the dollarization decreased on deposits (1.91 PP) and increased on loans (0.56 PP) MoM;
- In January 2026, GEL appreciated against USD by 0.1%, depreciated against EUR by 0.02%, and appreciated against TRY by 1.3%.
- In January 2026, the currencies of the region countries stand out with a tendency of appreciation towards USD, except TRY and AZN.
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