Real GDP growth was 5.1% y/y in April 2019
Georgia’s economy grew by 5.1% y/y in April 2019 after growing 6.0% y/y in previous month, according to Geostat’s rapid estimates. In April 2019, real growth was posted in trade, transport, financial intermediation and real estate sectors. Meanwhile, growth was down in construction sector. As in previous months, growth in April was supported by a significant improvement in the external balance increasing net exports. Overall, real GDP growth was 4.8% y/y in 4M19. Monthly rapid estimates are based on VAT turnover, fiscal and monetary statistics.
NPLs at 3.4% in April 2019
In April 2019, the banking sector loan portfolio increased 13.1% y/y excluding the exchange rate effect according to NBG. In unadjusted terms, loan portfolio was up 17.7% y/y and down 0.4% m/m to GEL 26.7bn (US$ 9.9bn). Deposits were up 9.8% y/y excluding the exchange rate effect. In unadjusted terms, deposits were up 16.3% y/y and flat m/m to GEL 23.1bn (US$ 8.6bn). Deposit dollarization declined to 61.8% (-0.59ppts y/y and -0.20ppts m/m) and loan dollarization stood at 55.7% (+0.69ppts y/y and -0.62ppts m/m). NPLs stood at 3.4% in April 2019 (+0.8ppts y/y and +0.4ppts m/m).
