Each month/quarter, PBO issues short macroeconomic reviews. Those monthly/quarterly reviews, which are based on information from the Geostat, National bank of Georgia and Ministry of Finance and use PBO estimations, provide information on the monthly/quarterly status of core macro aggregates.

HIGHLIGHTS

• In Q1 2025, according to preliminary estimate real GDP increased by 9.3%;
• In Q1 2025, annual inflation amounted to 2.6%, lower than the inflation target of 3.0%;
• In Q1 2025, negative overall balance of consolidated budget amounted to GEL 213.8 million;
• In Q1 2025, an increasing trend was observed in terms of public debt. The share of external debt in total public debt decreased. Namely, the share of external debt made up 69.9%, while the same indicator in Q1, 2024 was 72.8%;
• In Q4* 2024, current account balance improved. Current account negative balance amounted to USD 613.6 million (in Q4 2023, current account balance was negative and amounted to USD 639.8 million;
• In Q1 2025, the amount of international reserves reached to USD 4,310.8 million, 9.8% decrease YoY;
• In Q1 2025, the share of the export in external trade in goods decreased from 27.4% to 24.9% YoY;
• In Q1 2025, remittances to Georgia decreased by 3.2% YoY and amounted to USD 786.6 million;
• Monetary policy (refinancing) rate amounted to 8.00% at the end of Q1, 2025;
• GEL depreciated against USD by 2.0% QoQ and depreciated by 5.1% YoY;
• Dollarization coefficient increased (by 3.2 PP) on deposits, while decreased (by 1.7 PP) on loans YoY.

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