The Georgian government has revised its economic growth forecast for 2025 upward to 7.2%, according to the draft amendments to next year’s state budget. The original projection stood at 6%, but stronger-than-expected performance, 7.6% growth recorded in the first 10 months of 2024, prompted the adjustment.
The revision also affects the country’s tax revenue plan, which will increase by 55 million GEL, bringing total projected tax revenues to 21.94 billion GEL. The increase is primarily driven by higher expected income tax collections, while profit tax projections have been revised downward.
Updated 2025 Tax Revenue Plan
- Total tax revenues: 21,940 million GEL (+55 million GEL)
- Income tax: 7,549 million GEL (+180 million GEL)
- Profit tax: 2,880 million GEL (–190 million GEL)
The decrease is due to lower-than-expected profits in the banking sector in 2024.
- VAT: 8,136 million GEL (unchanged)
- Excise tax: 2,650 million GEL (unchanged)
- Import duty: 145 million GEL (–5 million GEL)
- Other taxes: 580 million GEL (+70 million GEL)
