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 9.5% YoY.
- In March, annual CPI inflation amounted to 0.5% YoY, lower than the inflation target of 3.0%. Annual inflation was predominantly driven by the dynamics of prices on transport, alcoholic beverages and tobacco, restaurants, hotels, education, health, food and non-alcoholic beverages etc.
- In February* 2024, general government revenues increased by 17.2% YoY, while expenses increased by 17.8% YoY.
- In February* 2024, commercial bank loans to the national economy increased by 16.0% YoY and amounted to 50.5 billion GEL. As for loans issued by types of activity, the highest were issued in trade, construction and industry.
- In January - February*, export of goods decreased by 12.2%, while imports decreased by 1.6% YoY. As a result, trade turnover amounted to 2,950 million USD (4.8% decrease YoY).
- In February*, money transfers into Georgia decreased by 26.9 % YoY and amounted to 272.3 million USD. The main source of money transfers were EU countries (38.8% of total) and Russia (22.8%).
- In March, international reserves amounted to 4,777 million USD, which is a 4.5% decrease YoY and 0.6% decrease MoM.
- In February*, the dollarization on both deposits and loans decreased MoM.
- In March 2024, GEL depreciated against USD by 1.0%, and against EUR by 1.5%, while appreciated against TRY by 2.9% MoM.
- In March, the currencies of the region countries stand out with a tendency of depreciation towards USD.
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