In 2023, Georgian power plants generated 14,396 mln. kWh of electricity, record high generation for a single year. This represents a 1% increase in total generation, compared to the previous year (in 2022, total generation was 14,247 mln. kWh). The increase in generation on a yearly basis comes from the increase in hydropower generation (1%) and thermal power (2%), while wind power generation decreased (-2%).
Assessing the progress of the SME Development reform (henceforth "SME reform") relates to the activities that have been implemented and are planned in accordance with the SME Development Strategy of Georgia 2021-2025. The strategy aims to restore positive trends that were present prior to the onset of the pandemic and to support the continued growth of small and medium-sized enterprises.
In December 2023, Georgian power plants generated 1,166 mln. kWh of electricity. This represents a 4% increase in the total generation compared to the previous year (in December 2022, the total generation was 1,116 mln. kWh). The rise in generation on a yearly basis comes from an increase in hydropower generation by 87%, while the generation of thermal and wind power plants decreased by 45% and 16%, respectively.
Geostat has released its rapid estimate of real GDP growth for October 2023. The estimated growth stands at 6.2%, while the average real GDP growth for January- October 2023 reached 6.9%.
In November 2023, Georgian power plants generated 1,003 mln. kWh of electricity (Figure 1). This represents an 11% decrease in the total generation compared to the previous year (in November 2022, the total generation was 1,131 mln. kWh). The fall in the generation on a yearly basis comes from a decrease in thermal and wind power generation by 27%, and 13%, respectively, while the generation of hydropower plants increased by 1%.