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 11.0% YoY;
- In November, annual CPI inflation amounted to 1.3% YoY, lower than the inflation target of 3.0%. Annual inflation was predominantly driven by the dynamics of prices on food and non-alcoholic beverages, health and transport;
- In October*, general government revenues increased by 5.1% YoY, while expenses increased by 2.1% YoY;
- In October*, commercial bank loans to the national economy increased by 20.5% YoY and amounted to 58.3 billion GEL. As for loans issued by types of activity, the highest were issued in trade, construction and industry;
- In January - October*, export of goods increased by 7.4%, while imports increased by 4.8% YoY. As a result, trade turnover amounted to 19,025.3 million USD (5.5% increase YoY);
- In October*, money transfers into Georgia decreased by 1.5% YoY and amounted to 281.1 million USD. The main source of money transfers were EU countries (44.3% of total), USA (18.1%) and Russia (12.2%);
- In November, international reserves amounted to 4,124 million USD, which is a 19.5% decrease YoY and 1.0% increase MoM;
- In October* 2024, dollarization increased on deposits, while decreased on loans MoM;
- In November, GEL depreciated against USD by 0.3%, appreciated against EUR by 2.3% and appreciated against TRY by 0.2% MoM;
- In November 2024, the currencies of the region countries stand out with a tendency of depreciation towards USD, except AMD.
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