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 Q3 2024, according to preliminary estimate real GDP increased by 11.1%, which is more than the forecasted 6.4% by the Parliamentary Budget Office.
• In Q3 2024, annual inflation amounted to 1.1%, lower than the inflation target of 3.0%.
• In Q3 2024, negative overall balance of consolidated budget amounted to GEL 657.9 million.
• In Q3 2024, 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 72.1%, while the same indicator in Q3, 2023 was 73.7%.
• In Q2* 2024, current account balance worsened. Namely, current account negative balance amounted to USD 392.6 million, 1.9% more YoY.
• In Q3 2024, the amount of international reserves reached to USD 4,712.4 million, 10.6% decrease YoY.
• In Q3 2024, the share of the export in external trade in Goods increased from 27.3% to 31.3% YoY.
• In Q3 2024, remittances to Georgia decreased by 0.9% YoY and amounted to USD 872.1 million.
• Monetary policy (refinancing) rate amounted to 8.00% at the end of Q3, 2024.
• GEL appreciated against USD by 1.0% QoQ and depreciated by 3.4% YoY.
• Dollarization coefficient decreased on deposits, as well as on loans YoY.

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