In its October 2024 World Economic Review, the International Monetary Fund (IMF) has increased its economic growth forecast for Georgia this year to 7.6%, with a projected growth rate of 6.0% for 2025, the Ministry of Economy reported.

According to the IMF’s forecasts, Georgia’s per capita GDP in 2024 is expected to reach 8,882.6 USD, equivalent to 27,363.4 international dollars based on purchasing power parity. By 2029, this figure is anticipated to rise to 12,734.2 USD, or 38,744.7 international dollars, which would represent 52.5% of the EU average.

Vakhtang Tsintsadze, Deputy Minister of Economy and Sustainable Development, highlighted that Georgia’s revised growth forecast is the highest compared to both European and regional countries.

“In comparison to the average economic growth rates of other EU candidate countries, our growth will exceed their average by 2.5 times in 2024,” he noted.

Tsintsadze emphasized the government’s commitment to sustaining economic growth above the predictions of international financial institutions and reducing the living standards gap between Georgia and EU countries.

He mentioned that the Georgian government is actively pursuing infrastructure projects that are crucial for transforming the economy.