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 7.5% YoY.
- In July, annual CPI inflation amounted to 1.8% YoY, lower than the inflation target of 3.0%. Annual inflation was predominantly driven by the dynamics of prices on transport. food and non-alcoholic beverages, restaurants and hotels as well as alcoholic beverages and tobacco.
- In June* 2024, general government revenues increased by 32.9% YoY, while expenses increased by 10.1% YoY.
- In June* 2024, commercial bank loans to the national economy increased by 20.7% YoY and amounted to 55.5 billion GEL. As for loans issued by types of activity, the highest were issued in trade, construction and industry.
- In January - June*, export of goods decreased by 6.7%, while imports increased by 0.2% YoY. As a result, trade turnover amounted to 10,319.4 million USD (1.8% decrease YoY).
- In June*, money transfers into Georgia decreased by 20.9% YoY and amounted to 281.1 million USD. The main source of money transfers were EU countries (42.5% of total) and Russia (17.4%).
- In July, international reserves amounted to 4,671 million USD, which is a 14.1% decrease YoY and 2.0% increase MoM.
- In June*, the dollarization on deposits as well as on loans decreased MoM.
- In July 2024, GEL appreciated against USD by 3.4%, against EUR by 2.6% and against TRY by 4.5% MoM.
- In July 2024, part of the currencies of the region countries stand out with a tendency of appreciation towards USD, while others depreciated.
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