Galt & Taggart has raised its economic growth forecast for Georgia from 5% to 6.8%. The investment bank said the reason for revising the economic forecast was higher-than-expected economic growth in the first two months of this year.
According to Geostat, in February 2025, Georgia’s economy grew by 7.7%, and in January, GDP growth made up 11.1%. In total, the economy grew by 9.4% in the first two months of this year. The main drivers of economic growth were the professional and scientific, information technologies, transport and other sectors.
"At the beginning of the year, we had a forecast of 5% economic growth in the baseline scenario. However, when a higher growth rate was observed [in January-February] than we had included in the forecasts, we had to revise the direction of growth. We increased the economic growth forecast in the baseline scenario to 6.8%. This growth, like last year, will be driven by actual consumption this year as well. The contribution of investments will be maintained at the same level as in 2024, which was a contribution of 0.5 percentage points," Galt & Taggart economist Lasha Kavtaradze told BMGtv.
