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 August* annual economic growth amounted to 5.8% YoY. Should be marked high economic growth rates and fast recovery process compared to 2019, pre pandemic period.
• Annual consumer price inflation amounted to 0.7% in September, lower than the inflation target of 3%, primarily driven by increasing prices on housing and alcoholic beverages.
• In August*, general government revenues increased by 26.9% YoY, while expenses increased by 9.5% YoY.
• In August*, commercial bank loans amounted to 46.6 billion GEL. As for loans issued by types of activity, the highest were issued in trade, construction and industry.
• In January - August*, goods exports increased by 14.4%, while imports increased by 17.8% YoY. Trade turnover amounted to 14,005 million USD.
• In August* money transfers amounted to 287.0 million USD. The main source of money transfers are EU countries (39.5% of total) and Russia (21.0%).
• In September, international reserves reached 5,273 million USD and increased by 22.3% YoY.
• In August*, the dollarization on deposits and on loans decreased MoM.
• In September, GEL depreciated against USD (by 0.9%) and appreciated against EUR (by 1.1%) MoM.

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