Inflation hitting 2%, loans up by 18.4%, goods import up by 11.3%, int’l reserves at $4.8bln are reported by the National Bank

An update of the current situation and macroeconomic indicators in the banking and financial sectors of the country was provided by The National Bank of Georgia on Wednesday.
The increase of the annual inflation reached two percent in May. “Higher fuel and some food prices” caused the increase of prices by 0.4 percent compared to April. The rate of base inflation, excluding volatile items, is 1.7 percent.
Banking sector
The central bank reported loans’ increase by 18.4 percent year-on-year in April and the decrease of the dollarisation of deposits to 48.3 percent. The dollarisation of the total credit portfolio remained at 44.7 percent.
Foreign sector
Investment and consumer goods made imports of goods increase by 11.3 percent year-on-year, according to NBG, but a decrease in the export of intermediate, consumer and investment goods made the registered export of goods decrease by 12.7 percent year-on-year in April.
The official international reserves totalled $4.8 billion in April ($37.4 million increase compared to the previous month).
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