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* annual economic growth amounted to 5.1% YoY. Should be marked high economic growth rates and fast recovery process compared to 2019, pre pandemic period.
- Annual consumer price inflation amounted to 0.8% in October, lower than the inflation target of 3.0%, primarily driven by increasing prices on alcoholic beverages and housing.
- In September*, general government revenues increased by 8.4% YoY, while expenses increased by 14.0% YoY.
- In September*, commercial bank loans amounted to 47.7 billion GEL. As for loans issued by types of activity, the highest were issued in trade, construction and industry.
- In January - September*, goods exports increased by 12.7%, while imports increased by 18.2% YoY. Trade turnover amounted to 15,911 million USD.
- In September* money transfers amounted to 283.9 million USD. The main source of money transfers are EU countries (39.0% of total) and Russia (20.9%).
- In October, international reserves reached 5,119 million USD and increased by 16.7% YoY.
- In September*, the dollarization on deposits and on loans increased MoM.
- In October, GEL depreciated against USD (by 1.7%) and depreciated against EUR (by 0.4%) MoM.
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