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 April* annual economic growth amounted to 7.5% YoY. Should be marked high economic growth rates and fast recovery process compared to 2019, pre pandemic period.
• Annual consumer price inflation amounted to 1.5% in May, which was primarily driven by increasing prices on food and non-alcoholic beverages.
• In April*, general government revenues increased by 71.4% YoY, while expenses increased by 10.8% YoY.
• In April*, commercial bank loans amounted to 43.6 billion GEL. As for loans issued by types of activity, the highest were issued in trade, industry and construction.
• In January - April*, exports increased by 23.6%, while imports increased by 21.2% YoY. Trade turnover amounted to 6,493 million USD.
• In April* money transfers amounted 369.7 million USD. The main source of money transfers are Russia (43.2% of total) and EU countries (28.0%).
• In May, international reserves reached increased by 29.8% YoY and amounted to 5,005 million USD.
• In April*, the dollarization on deposits and on loans decreased MoM.
• In May, GEL depreciated against USD (by 0.4%), while appreciated against EUR (by 0.3%) MoM

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