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 9.2% YoY.
- In June, annual CPI inflation amounted to 2.2% 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 May* 2024, general government revenues increased by 14.5% YoY, while expenses increased by 8.2% YoY.
- In May* 2024, commercial bank loans to the national economy increased by 22.6% YoY and amounted to 54.5 billion GEL. As for loans issued by types of activity, the highest were issued in trade, construction and industry.
- In January - May*, export of goods decreased by 9.2%, while imports increased by 0.7% YoY. As a result, trade turnover amounted to 8,432.0 million USD (2.2% decrease YoY).
- In May*, money transfers into Georgia decreased by 26.7% YoY and amounted to 284.3 million USD. The main source of money transfers were EU countries (42.5% of total) and Russia (16.9%).
- In June, international reserves amounted to 4,581 million USD, which is a 9.6% decrease YoY.
- In May*, the dollarization on deposits as well as on loans increased MoM.
- In June 2024, GEL depreciated against USD by 3.9%, against EUR by 3.6% and against TRY by 3.0% MoM.
- In June, the currencies of the region countries stand out with a tendency of depreciation towards USD.
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