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 11.8% YoY.
- In May, annual CPI inflation amounted to 2.0% 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.
- In April* 2024, general government revenues decreased by 5.3% YoY, while expenses increased by 27.2% YoY.
- In April* 2024, commercial bank loans to the national economy increased by 21.0% YoY and amounted to 52.7 billion GEL. As for loans issued by types of activity, the highest were issued in trade, construction and industry.
- In January - April*, export of goods decreased by 10.1%, while imports increased by 0.3% YoY. As a result, trade turnover amounted to 6,563.4 million USD (2.7% decrease YoY).
- In April*, money transfers into Georgia decreased by 24.7% YoY and amounted to 278.5 million USD. The main source of money transfers were EU countries (41.8% of total) and Russia (17.6%).
- In May, international reserves amounted to 4,600 million USD, which is a 8.0% decrease YoY and 4.5% decrease MoM.
- In April*, the dollarization on deposits as well as on loans decreased MoM.
- In May 2024, GEL depreciated against USD by 1.4%, against EUR by 2.1% and against TRY by 1.7% MoM.
- In May, the currencies of the region countries stand out with a tendency of depreciation towards USD.
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