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 February* annual economic growth amounted to 5.8% YoY. Should be marked high economic growth rates and fast recovery process compared to 2019, pre pandemic period.
• Annual consumer price inflation amounted to 5.3% in March, which was primarily driven by increasing prices on food and non-alcoholic beverages.
• In February*, general government revenues increased by 20.4% YoY, while expenses increased by 16.0% YoY.
• In February*, commercial bank loans amounted to 43.5 billion GEL. As for loans issued by types of activity, the highest were issued in trade, industry and construction.
• In January - February*, exports increased by 20.3%, while imports increased by 9.0% YoY. Trade turnover amounted to 2,898 million USD.
• In February* money transfers amounted 372.3 million USD. The main source of money transfers are Russia (50.3% of total) and EU countries (24.5%).
• In March, international reserves reached historical maximum and amounted to 5,004 million USD.
• In February*, the dollarization on deposits and on loans decreased MoM.
• In March, GEL appreciated against USD (by 2.3%), while appreciated against EUR (by 2.7%) MoM.

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