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 7.7% YoY;
- In March 2025, annual CPI inflation amounted to 3.5% YoY, higher than the inflation target of 3.0%. Annual inflation was predominantly driven by the dynamics of prices on food and non-alcoholic beverages, health, alcoholic beverages and tobacco;
- In February*, general government revenues increased by 7.3% YoY, while expenses increased by 10.5% YoY;
- In February*, commercial bank loans to the national economy increased by 20.3% YoY and amounted to 60.7 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 increased by 4.0%, while imports increased by 19.6% YoY. As a result, trade turnover amounted to 3,567.6 million USD (15.6% increase YoY);
- In February*, money transfers into Georgia decreased by 5.3% YoY and amounted to 252.3 million USD. The main source of money transfers were EU countries (43.9% of total), USA (18.8%) and Russia (12.0%);
- In March 2025, international reserves amounted to 4,311 million USD, which is a 9.8% decrease YoY and 1.8 increase MoM;
- In February* 2025 the dollarization on both deposits (1.07 PP) and loans (0.52 PP) decreased MoM;
- In March 2025, GEL appreciated against USD by 1.4%, depreciated against EUR by 2.0% and appreciated against TRY by 4.1% MoM;
- In March 2025, the currencies of the region countries stand out with a tendency of appreciation towards USD, except GEL and TRY.
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