The National Bank of Georgia has published a review of conditions in the country’s banking and financial sectors and key macroeconomic indicators, intended to provide a short-term monthly macroeconomic analysis based on the latest available information. Headline findings include annual inflation of 5.9% in April, with the overall price level up 1.7% from March, core inflation at 3.2%, and services inflation accelerating to 3.7%. In the banking sector, loan growth in March, excluding the exchange rate effect, increased by 0.7 percentage points to 14.9% year on year. Additional indicators in the review show deposit dollarization rising by 0.6 percentage points in March to 46.6%, while dollarization of the total credit portfolio increased by 0.3 percentage points to 42.5%. In the external sector, goods imports rose 4.7% year on year to USD 1.6 billion, mainly driven by intermediate goods, which contributed 5.5 percentage points to growth. Exports increased 24.0% to USD 697.0 million, with growth mainly driven by intermediate goods, contributing 16.3 percentage points, and consumer goods, contributing 7.6 percentage points. Total reserves stood at USD 6.3 billion as of March.
National Bank of Georgia 2026-05-05
National Bank of Georgia publishes monthly macroeconomic review with April inflation at 5.9% and March loan growth at 14.9%
The National Bank of Georgia published a monthly review of banking and financial sector conditions and key macroeconomic indicators, reporting annual inflation of 5.9% in April and services inflation of 3.7%. Banking sector loan growth reached 14.9% year on year in March, with deposit dollarization at 46.6% and credit portfolio dollarization at 42.5%. In the external sector, March goods imports rose 4.7% year on year to USD 1.6 billion and exports increased 24.0% to USD 697.0 million, while international reserves stood at USD 6.3 billion.