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* annual economic growth amounted to 6.2% YoY. Should be marked high economic growth rates and fast recovery process compared to 2019, pre pandemic period.
- Annual consumer price inflation amounted to 0.1% in November, lower than the inflation target of 3.0%, primarily driven by increasing prices on transport, alcoholic beverages and housing.
- In October*, general government revenues increased by 13.3% YoY, while expenses increased by 25.4% YoY.
- In October*, commercial bank loans amounted to 48.4 billion GEL. As for loans issued by types of activity, the highest were issued in trade, construction and industry.
- In January - October*, goods exports increased by 12.5%, while imports increased by 17.8% YoY. Trade turnover amounted to 17,785 million USD.
- In October* money transfers amounted to 283.0 million USD. The main source of money transfers are EU countries (38.9% of total) and Russia (21.8%).
- In November, international reserves reached 5,122 million USD and increased by 10.5% YoY.
- In October*, the dollarization on deposits and on loans increased slightly MoM.
- In November, GEL depreciated against USD (by 0.6%) and depreciated against EUR (by 2.6%) MoM.
- In November, the currencies of the region countries stand out with a tendency of depreciation towards USD, except Georgian Lari.
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