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Q3 2025 Macro Review | Services momentum, external resilience
12 January 2026

According to preliminary indicators, real GDP grew about 6.5% y/y in Q3 2025 (Figure 1), easing from 7.3% in Q2 but still above the pre-2022 norm. Expansion remained services-led: summer tourism, ICT, and transport did most of the lifting, while manufacturing and construction/utilities were softer as re-exports normalized.

December 2025 | Agri Review
12 January 2026

In 2025, the Government of Georgia (GoG) continued subsidizing non-standard (lower-quality) tangerines, allocating 2.6 million GEL to the Autonomous Republic of Adjara. Local citrus processing companies that purchased non-standard tangerines from farmers for at least 40 tetri per kilogram, received a 35-tetri subsidy from the government.

Size-based financial performance patterns of Georgian enterprises: evidence from firm-level data
30 December 2025

Firms differ systematically by size, and these differences shape how aggregate shocks propagate through the corporate sector. Large and small firms vary in their production technologies, cost structures, financing options, and ability to absorb adverse shocks. These differences become particularly important during periods of macroeconomic stress, when constraints on liquidity, access to finance, and cost flexibility can translate into sharply divergent performance outcomes.

December 2025 | The Khachapuri Index over the decade
30 December 2025

In December 2025, the average cost of preparing one standard Imeretian khachapuri increased to 7.86 GEL, marking a 5.2% rise compared to November 2025 and a notable 11.8% increase compared to December 2024.

December 2025 | Georgia’s economy in 2025: robust growth, inflation pressures, and external risks
22 December 2025

According to the ISET Policy Institute's latest projections, based on September’s data, Georgia's economy is expected to grow by 6.7% in the fourth quarter of 2025 and 5.2% in the first quarter of 2026. The annual growth in 2025 is expected to be 7.6%.

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