![](https://iset-pi.ge/site_images/date.png)
Similar to the year 2022, Georgia stayed on the path of economic recovery from COVID-19 in 2023 as well. According to GeoStat’s preliminary estimates, the real GDP continues to show a relatively high growth rate, measuring at 7.5% y/y in 2023 – which is remarkably higher than the NBG’s real GDP growth expectation of 6% from October 2023.
![](https://iset-pi.ge/site_images/date.png)
In June 2023, responding to appeals from the Georgian Flour Producers Association, the Georgian government imposed a temporary import duty on wheat flour imported from Russia. This advocacy by the Association began after Russia implemented a “floating tariff” on wheat in 2021, making wheat imports more expensive compared to wheat flour.
![](https://iset-pi.ge/site_images/date.png)
Geostat has released its rapid estimate of real GDP growth for December 2023. The estimated growth stands at 8.3%, while the average annual real GDP growth reached 7%.
![](https://iset-pi.ge/site_images/date.png)
In January 2024, Georgian power plants generated 1,175 mln. kWh of electricity. This represents a 6% increase in the total generation compared to the previous year (in January 2023, the total generation was 1,111 mln. kWh).
![](https://iset-pi.ge/site_images/date.png)
Geostat has released its rapid estimate of real GDP growth for November 2023. The estimated growth stands at 5.9%, while the average real GDP growth for January-November 2023 reached 6.9%.