The year 2024 saw a remarkable decline in poverty levels amid robust economic growth. Vakhtang Tsintsadze, Georgia’s Deputy Minister of Economy and Sustainable Development, reported that the poverty rate dropped by 2.4 percentage points last year, falling below double digits for the first time and reaching a historic low of 9.4 per cent—an unprecedented milestone for Georgia.

“If we examine this indicator quantitatively, we find that in just one year, more than 90,000 people escaped poverty. Over four years, this figure exceeds 445,000 individuals,” Tsintsadze stated.

The Deputy Minister attributed this achievement to consistent and effective economic policies.

“On one hand, the high economic growth—among the highest globally in 2024 at 9.4 per cent—has played a crucial role. On the other hand, our economic strategy focuses on increasing inclusiveness and ensuring equal access to opportunities. We anticipate that maintaining this high growth rate in 2025 will further reduce poverty, boost employment, and generally improve household incomes,” he emphasised.

He also highlighted the Georgian government’s efforts in the implementation of several state programs aimed at fostering small and medium enterprises, enhancing private sector competitiveness, and advancing strategic infrastructure projects.

According to data published by Geostat, Georgia’s poverty level reached a historic minimum in 2024, coinciding with strong economic growth. When compared to pre-pandemic figures, over 378,000 people have escaped poverty, and relative to 2023, more than 90,000 individuals moved out of poverty. This decline was observed across all age groups and in both rural and urban areas.

In 2024, the Gini coefficient—an indicator of income inequality—decreased by 0.02, reaching 0.35 based on total income. Similarly, the Gini coefficient calculated from total expenditure decreased by 0.003, amounting to 0.40, reflecting a modest reduction in income disparity.