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 June* annual economic growth amounted to 7.7% YoY. Should be marked high economic growth rates and fast recovery process compared to 2019, pre pandemic period.
• Annual consumer price inflation amounted to 0.3% in July, which was primarily driven by increasing prices on Housing, water, electricity, gas and other fuels.
• In June*, general government revenues increased by 10.0% YoY, while expenses increased by 12.8% YoY.
• In June*, commercial bank loans amounted to 46.0 billion GEL. As for loans issued by types of activity, the highest were issued in trade, construction and industry.
• In January - June*, exports increased by 19.3%, while imports increased by 20.4% YoY. Trade turnover amounted to 10,268.6 million USD.
• In June* money transfers amounted to 353.2 million USD. The main source of money transfers are Russia (36.6% of total) and EU countries (31.1%).
• In July, international reserves reached historical maximum and amounted to 5,436 million USD.
• In June*, the dollarization on deposits and on loans increased MoM.
• In July, GEL appreciated against USD (by 0.8%) and depreciated against EUR (by 1.1%) MoM.

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