First Vice PM Davitashvili: Georgia leads region in terms of economic growth rate
First Vice PM Davitashvili: Georgia leads region in terms of economic growth rate

“Even though many political forces are making unfounded forecasts, we should end 2024 with a nine per cent growth according to preliminary results. Most importantly, we have also maintained the planned economic indicators for 2025 and 2026, as projected by the World Bank,” stated First Vice Prime Minister Levan Davitashvili while assessing the World Bank’s “World Economic Prospects” report.

Davitashvili noted that, based on this economic growth rate, Georgia continues to lead the region.

According to the World Bank report, Georgia is projected to experience the highest average economic growth rate (6.7 per cent) among countries in the Europe and Central Asia region from 2024 to 2026.

The World Bank has revised its estimates upward for Georgia’s economic growth in 2024 and 2025. The updated forecast indicates that Georgia’s economy will grow by 9.0% in 2024, an increase of 3.8 percentage points from the June 2024 forecast. The economic growth forecast for 2025 is set at 6.0%, which is up by 1.0 percentage points from the previous forecast while the figure for 2026 remains unchanged at 5.0%.

The report highlights that Georgia is among the global leaders in economic growth, ranking first in the Europe and Central Asia region for both 2024 and 2025.

Furthermore, Georgia’s average economic growth forecast for 2025-2026 is 1.5 times higher than the average for other EU candidate countries and five times higher than the growth rate of the Eurozone economy.