The National Bank of Georgia has published its monthly review of the banking and financial sectors and macroeconomic conditions, based on the latest available data. The review shows annual inflation at 5.8 percent in June, with monthly inflation at 0.1 percent, while banking indicators point to continued loan growth and lower deposit dollarization. It also reports stronger trade flows and a rise in official international reserves to more than USD 7 billion as of May. Core inflation, which excludes volatile food, energy and tobacco prices, stood at 3.2 percent in June, while services inflation reached 4.1 percent. In the banking sector, loan growth adjusted for exchange rate effects was 14.2 percent in May. Deposit dollarization fell by 1.3 percentage points to 45.1 percent, while dollarization of the total credit portfolio rose by 0.1 percentage point to 42.4 percent. In the external sector, goods imports increased 5.1 percent year on year to USD 1.6 billion in May, driven mainly by intermediate goods, while investment and consumer goods imports declined. Goods exports rose 15.1 percent to USD 667.8 million, led by intermediate and consumer goods exports, while investment goods exports fell. Official international reserves increased by USD 536.3 million from the previous month, taking the total above USD 7 billion.
National Bank of Georgia2026-07-06
National Bank of Georgia publishes monthly macro review showing June inflation at 5.8 percent and reserves above USD 7 billion
The National Bank of Georgia has issued its monthly macro review, showing annual inflation at 5.8 percent in June and exchange rate-adjusted loan growth at 14.2 percent in May. Deposit dollarization declined to 45.1 percent, exports and imports both increased, and official international reserves rose to more than USD 7 billion.