Top 3 highlights from Georgia’s monthly economic review:

1. Services drive CA deficit improvement
CA deficit narrowed to 5.3% of GDP in 1H25 (1H24: 7.0%), as the services surplus rose 17.1% y/y to US$ 1.9bn, led by ICT, tourism, and transport.

2. Domestic inflation accelerates
Annual inflation climbed to 4.6% in Aug-25 (Jul-25: 4.3%), pushed by stronger domestic price growth, while imported goods prices continued to decline.

3. Stable GEL supports reserve buildup
NBG purchased US$ 1.5bn during Mar-Aug, including US$ 199.6mn in August 2025.