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Vakhtang Tsintsadze: According to the forecast of the International Monetary Fund, the forecast for economic growth of Georgia in 2024 is increased up to 7,6%, which is the highest rate compared to both European and regional countries
23-10-2024

In the World Economic Review of October 2024, the International Monetary Fund increased the Georgia's economic growth forecast up to 7,6% this year, and the growth rate in 2025 will be 6,0%. "According to the review of the International Monetary Fund, the economic growth forecast for Georgia in 2024 has increased to 7,6%, which is the highest rate compared to both European and regional countries," –Vakhtang Tsintsadze, Deputy Minister of Economy and Sustainable Development said.

"If we compare the economic growth of Georgia with the average indicators of economic growth of other candidate countries for the EU membership, only with the indicator of 2024, our economic growth is 2,5 times higher than their average indicator," –the Deputy Minister noted. According to Tsintsadze, the government's task is to maintain the rate of economic growth at a higher level than the international financial institutions predicted and to maximally reduce the difference in the living standards of Georgia compared to the EU countries.

Vakhtang Tsintsadze noted that the Government of Georgia is actively working in the direction of economic growth and implements infrastructure projects that contribute to the transformation of the economy. "We are also actively helping businesses to improve their competitiveness, and as a result of everything mentioned, we expect to be able to maintain the economic growth that has been recorded in the country for the last three years," –the Deputy Minister said.

According to the International Monetary Fund, in 2024 the GDP of Georgia per capita will be 8882,6 USD. The dollar - based on purchasing power parity - will be equal to 27363,4 international dollars, and by 2029 the GDP per capita will be 12734,2 USD. The dollar will be 38744,7 international dollars, which is 52,5% of the EU average.

 

 

 

 

 

 

 

 

 

 

 

 


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