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 September* 2022 annual economic growth amounted to 8.8% YoY. Should be marked high economic growth rates and fast recovery process compared to 2019, pre pandemic period.
• Annual consumer price inflation amounted to 10.6% in October, which was primarily driven by increasing prices on food and non-alcoholic beverages.
• In September*, general government revenues increased by 29.2% YoY, while expenses increased by 8.6% YoY.
• In September*, commercial bank loans amounted to 42.1 billion GEL. As for loans issued by types of activity, the highest were issued in trade and industry.
• In January-September*, exports increased by 37.4%, while imports increased by 34.4% YoY. Trade turnover amounted to 13,612 million USD.
• In September* the main source of money transfers are Russia (44.9% of total) and EU countries (23.8%).
• In October 2022, international reserves reached historical maximum and amounted to 4,386 million USD.
• In September*, the dollarization on deposits increased, while on loans decreased MoM
• In October, GEL appreciated against USD (by 2.3%) and against EUR (by 3.6%) MoM

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