Geostat has released its rapid estimate of real GDP growth for July 2023. The estimated growth stands at 5.5%, while the average real GDP growth for January-July 2023 reached 7.2%.

In July 2023, Georgian power plants generated 1,541 mln. kWh of electricity. This represents an 18% increase in the total generation compared to the previous year (in July 2022, the total generation was 1,308 mln. kWh). The rise in generation on a yearly basis comes from a rise of 8% in Hydro and 8% in wind and 45 times in thermal power generation.

For the third quarter of 2023, business confidence in Georgia decreased (by 10.7 index points) and reached 15.7. The highest business confidence is observed in the financial (26.4) sector. The negative change in BCI for Q3 2023 was driven by worsened past performance as well as less optimistic expectations.

In June 2023, Georgian power plants generated 1,369 mln. kWh of electricity (Figure 1). This represents an 8% decrease in the total generation compared to the previous year (in June 2022, the total generation was 1,485 mln. kWh). The decrease in generation on a yearly basis comes from a fall of 8% in Hydro and 9% in wind and 46% in thermal power generation.

In May 2023, Georgian power plants generated 1,325 mln. kWh of electricity. This represents a 9% decrease in the total generation compared to the previous year (in May 2022, the total generation was 1,461 mln. kWh). The decrease in generation on a yearly basis comes from a fall of 9% in Hydro and 6% in wind power, while thermal power generation increased by 89%.