Georgian economists surveyed by PMC Research assess Georgia’s present economic situation as positive. Their predictions for Georgia’s economic situation for the next six months are negative. A labor shortage was deemed a high or very high threat to the Georgian economy by 93% of the surveyed economists.
In a survey of Georgian economists conducted in Q3 of 2023, Georgia’s present economic situation was assessed positively. Their assessment of the present economic situation has improved compared to both – Q2 of 2023 as well as Q3 of 2022, reads the Georgian Economic Climate of PMC Research published today.
The surveyed economists’ predictions for Georgia’s economic situation for the next six months are negative. Their expectations in this regard have slightly worsened even compared to the already negative predictions they made in Q2 of 2023 and have significantly worsened compared to the positive expectations recorded in Q3 of 2022.
The surveyed economists were asked to identify which factors they considered to currently pose the greatest threat to the Georgian economy.
A labor shortage was assessed as a very high threat to the Georgian economy by 36% of respondents and as a high threat by 57%. Thus, in total, 93% of the surveyed economists see a labor shortage as a high or very high threat.
Nearly 78% of surveyed economists cited the high emigration rate as a high or very high threat.
Russia’s war on Ukraine was also highlighted as a high or very high threat to the Georgian economy by half of the surveyed economists (50%).
Half of the surveyed economists named rising cost of living as a high or very high threat to the Georgian economy.
Inflationary risks were considered as a low threat or no threat at all by 50% of the surveyed economists.
Nearly one-third (29%) of the respondents assessed exchange rate fluctuations as a low threat, the report concluded.
