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 October* 2022 annual economic growth amounted to 8.3% YoY. Should be marked high economic growth rates and fast recovery process compared to 2019, pre pandemic period.
• Annual consumer price inflation amounted to 10.4% in November, which was primarily driven by increasing prices on food and non-alcoholic beverages.
• In October*, the general government net lending/borrowing was positive.
• In October*, commercial bank loans amounted to 42.4 billion GEL. As for loans issued by types of activity, the highest were issued in trade, industry and construction.
• In January-October*, exports increased by 34.0%, while imports increased by 33.3% YoY. Trade turnover amounted to 15,228 million USD.
• In October* money transfers amounted 502.0 million USD. The main source of money transfers are Russia (59.6% of total) and EU countries (18.3%).
• In November international reserves reached historical maximum and amounted to 4,637 million USD.
• In October*, the dollarization on deposits and on loans decreased MoM
• In November, GEL appreciated against USD (by 2.1%), while depreciated against EUR (by 1.7%) MoM

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