28
June
2024
According to GeoStat’s preliminary estimates in the first quarter of 2024, Georgia’s nominal GDP reached GEL 18,913.2 million, with a year-over-year real GDP growth of 8.4% and a GDP deflator change of 3.1%. The growth was driven by significant increases in value-added across various sectors: Real estate activities rose by 18.8%, Education by 29.1%, Public administration and defence, including social security, by 13.0%, Construction by 10.3%, Information and communication by 12.2%, and Transportation and storage by 9.7%.
03
June
2024
The project aims to raise awareness and boost participation in the democratic process, fostering a strong and inclusive understanding of the benefits of EU integration for all age and ethnic groups in Georgia. Our goal is to communicate the tangible advantages of democracy and the EU path to Georgian youth and regional populations. Utilizing social media, we share compelling evidence highlighting the benefits of a European future for Georgia. The campaign is inclusive, with content available in Armenian and Azeri to reach minority groups.
25
April
2024
Due to a recent update in Geostat's GDP calculation methodology in December, revised growth rates show an upward trend compared to the previous month's figures. Consequently, our forecast for GDP growth has been adjusted upwards to reflect this change.
10
April
2024
Following the collapse of the Soviet Union, Georgia faced significant economic challenges, including political instability and conflicts. This resulted in a severe economic recession in the 1990s, with GDP contracting sharply.
01
April
2024
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.
