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.
- In September, annual CPI inflation amounted to 0.6% YoY, lower than the inflation target of 3.0%. Annual inflation was predominantly driven by the dynamics of prices on transport, alcoholic beverages and tobacco, restaurants, hotels, education.
- In August* 2024, general government revenues increased by 13.3% YoY, while expenses increased by 20.7% YoY.
- In August* 2024, commercial bank loans to the national economy increased by 20.0% YoY and amounted to 55.9 billion GEL. As for loans issued by types of activity, the highest were issued in trade, construction and industry.
- In January - August*, export of goods increased by 2.5%, while imports increased by 3.3% YoY. As a result, trade turnover amounted to 14,700.8 million USD (3.0% increase YoY).
- In August*, money transfers into Georgia increased by 0.3% YoY and amounted to 290.6 million USD. The main source of money transfers were EU countries (44.5% of total), USA (17.5%) and Russia (14.6%).
- In September, international reserves amounted to 4,712 million USD, which is a 10.6% decrease YoY and 2.6% decrease MoM.
- In August*, the dollarization on deposits as well as on loans decreased MoM.
- In September 2024, GEL depreciated against USD by 0.3%, against EUR by 1.3% and appreciated against TRY by 0.9% MoM.
- In September, the currencies of the region countries stand out with a tendency of depreciation towards USD, except RUB.
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