Economic growth in Georgia is expected to ease to 4.4 percent in 2023 and reach five percent in 2024 and 2025, the Europe and Central Asia Economic Update of the World Bank said on Thursday.
Strong money inflows have contributed to the strengthening of the lari, which has helped contain inflationary pressures and reduce debt levels. Inflation is projected to continue to fall gradually in 2023 in Georgia, although some food and rental price pressures may persist”, it noted.
The update follows projected figures by the Asian Development Bank, which said earlier this week the country’s economy would grow by 4.5 percent in 2023 before reaching a five percent growth rate in 2024.
Data from Georgia’s National Statistics Office showed the domestic economy grew 5.8 percent in February and 7.1 percent in the first two months of 2023.