GD Prime Minister Irakli Kobakhidze announced that Georgia's economy is on track to exceed GEL 100 billion by the end of 2024, a historic milestone for the country. The statement was made during his annual address to Parliament, in which the Prime Minister highlighted Georgia's rapid economic progress over the past four years.
“In 2024, our economy reached GEL 92 billion. By year-end, we can confidently say it will exceed GEL 100 billion for the first time,” said Kobakhidze.
“In 2012, when Georgian Dream came to power, the economy was below GEL 28 billion. We've increased it nearly fivefold.”
According to the Prime Minister, GDP per capita has more than doubled in just four years:
- 2020: USD 4,300
- 2024: USD 9,140
- 2025 forecast: Over USD 10,000 per capita
“This marks a significant leap and puts us first in Europe and the wider region in terms of economic growth during this period,” Kobakhidze added.
Kobakhidze also cited a new International Monetary Fund (IMF) forecast that places Georgia among the fastest-growing economies in Europe and the broader region through 2030, with a projected average growth rate of 5.2%.
“Even that figure is conservative. We believe actual growth will surpass this projection,” he noted.
The Prime Minister emphasized the importance of sustaining this economic momentum to ensure continued development and prosperity.
