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 Q4 2023, according to preliminary estimate real GDP increased by 6.8%, which is more than the forecasted 6.2% in November by the Parliamentary Budget Office.
• In Q4 2023, annual inflation amounted to 0.4%, lower than the inflation target of 3.0%.
• In Q4 2023, negative overall balance of consolidated budget amounted to GEL 1,229.7 million.
• In Q4 2023, 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 72.9%, while the same indicator in Q4, 2022 was 76.0%.
• In Q3* 2023, current account balance improved. Namely, current account positive balance amounted to USD 163.6 million, 51.2% less YoY.
• In Q4 2023, the amount of international reserves reached to USD 5,009.6 million, 2.2% increase YoY.
• In Q4 2023, the share of the export in external trade in Goods increased from 27.3%-დან 27.8% YoY.
• In Q4 2023, remittances to Georgia decreased by 43.3% YoY and amounted to USD 884.0 million.
• Monetary policy (refinancing) rate decreased to 9.5% at the end of Q4, 2023.
• GEL depreciated against USD by 2.7% QoQ and appreciated by 1.5% YoY.
• Dollarization coefficient decreased on deposits, while increased on loans YoY.

For details on other economic parameters, see Full document.