Jul 2, 2018

Monthly Update: June 2018

Monthly Update

  • Growth remains strong in economic partners
  • Growth in Georgia improves further, reaching 7.5% in May

  • Inflation remains close to the target in May with the monetary policy rate unchanged at 7.25%

  • Exports and imports increased by 50.2% and 25.2% respectively in May

  • Tourism revenues increased by 20% in May

  • Remittances were up by 13.0% in May

  • The CA balance remained broadly unchanged in Q1

  • FDI declined in Q1, reflecting one-offs

  • Loan growth remained strong at 18.7% in May at constant exchange rate

  • The real effective exchange rate appreciated by 1.6% MoM and weakened by 0.6% YoY

  • NBG bought 30m USD on the FX market in June

  • Tax revenues increased by 7.0% YoY in May. The fiscal balance was in surplus in five months of 2018

Download File