Finance Minister Lasha Khutsishvili participated in the Central and Eastern Europe Forum in Vienna, organized by the Financial Times. During his presentation on Georgia’s economic performance, he stated that over the past five years the country’s economy grew by an average of 9.3%, while public debt and the budget deficit both declined.
According to the minister, Georgia’s economy demonstrated strong resilience to various shocks and maintained robust macroeconomic fundamentals. Key indicators over the five-year period include:
- Average annual GDP growth: 9.3%
- Total real GDP growth: 56%
- GDP per capita: $5,000–$10,000
- Budget deficit reduced from 9% to 1.4%
- Public debt reduced from 60% to 34% of GDP
- Current account deficit reduced from 10% to 3%
Khutsishvili emphasized that these results were supported by structural reforms, prudent fiscal and monetary policies, and strong private-sector confidence.
Among the key drivers of economic growth, he highlighted tourism, which generated nearly 50% more revenue compared to the pre-pandemic period, along with the financial sector, ICT and education, construction, and logistics. These sectors attracted the bulk of foreign direct investment. Annual FDI inflows in Georgia stand at around 6% of GDP, significantly higher than the global and EU averages.
The minister also underlined the importance of the $6.6 billion investment by EMAAR Group for the country’s future development.
“These facts and figures clearly show how Georgia’s economy is progressing amid a very challenging geopolitical environment,” Khutsishvili said.
