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 2024, according to preliminary estimate real GDP increased by 8.4%;
- In Q4 2024 annual inflation amounted to 1.1%, lower than the inflation target of 3.0%;
- In Q4 2024, negative overall balance of consolidated budget amounted to GEL 1,675.9 million;In Q4 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 70.6%, while the same indicator in Q4, 2023 was 73.8%;
- In Q3* 2024, current account balance improved. Current account positive balance amounted to USD 58.2 million(in Q3 2023, current account balance was negative and amounted to USD 639.8 million;
- In Q4 2024, the amount of international reserves reached to USD 4,448.6 million, 11.2% decrease YoY;
- In Q4 2024, the share of the export in external trade in Goods increased from 27.0% to 27.5% YoY;
- In Q4 2024, remittances to Georgia decreased by 6.5% YoY and amounted to USD 833.2 million;Monetary policy (refinancing) rate amounted to 8.00% at the end of Q4, 2024;
- GEL depreciated against USD by 1.6% QoQ and depreciated by 2.3% YoY;
- Dollarization coefficient increased (by 2.3 PP) on deposits, while decreased (by 1.9 PP) on loans YoY.
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