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 May* annual economic growth amounted to 7.0% YoY. Should be marked high economic growth rates and fast recovery process compared to 2019, pre pandemic period.
- Annual consumer price inflation amounted to 0.6% in June, which was primarily driven by increasing prices on alcoholic beverages and tobacco and housing.
- In May*, general government revenues increased by 3.4% YoY, while expenses increased by 13.9% YoY.
- In May*, commercial bank loans amounted to 44.5 billion GEL. As for loans issued by types of activity, the highest were issued in trade, industry and construction.
- In January - May*, exports increased by 18.6%, while imports increased by 19.9% YoY. Trade turnover amounted to 8,363 million USD.
- In May* money transfers amounted to 384.9 million USD. The main source of money transfers are Russia (40.2% of total) and EU countries (28.9%).
- In June, international reserves increased by 29.2% YoY and amounted to 5,067 million USD.
- In May*, the dollarization on deposits slightly decreased while on loans increased MoM.
- In June, GEL depreciated against USD (by 3.2%) and against EUR (by 2.8%) MoM.
For more details, see the complete document.
