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 Q2 2025, according to preliminary estimate real GDP increased by 7.1%;
• In Q2 2025, annual inflation amounted to 3.6%, upper than the inflation target of 3.0%;
• In Q2 2025, positive overall balance of consolidated budget amounted to GEL 661.8 million;
• In Q2 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 69.8%, while the same indicator in Q2, 2024 was 73.1%;
• In Q1* 2025, current account balance worsened. Current account negative balance amounted to USD 658.9 million (in Q1 2024, current account balance was negative and amounted to USD 318.3 million);
• In Q2 2025, the amount of international reserves reached to USD 4,688.5 million, 2.3% increase YoY;
• In Q2 2025, the share of the export in external trade in goods increased from 26.4% to 30.1% YoY;
• In Q2 2025, remittances to Georgia increased by 10.0% YoY and amounted to USD 928.5 million;
• Monetary policy (refinancing) rate amounted to 8.00% at the end of Q2, 2025;
• GEL appreciated against USD by 2.6% QoQ and depreciated by 0.1% YoY;
• Dollarization coefficient increased (by 0.6 PP) on deposits, while decreased (by 2.1 PP) on loans YoY.

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