The Georgian economy grew by 11 percent in December and 10.1 percent over the past year, the latest data from the National Statistics Office of Georgia has shown.
The estimated real growth was observed in sectors including construction, manufacturing, transportation and storage.
It was also observed in financial and insurance activities, trade, hotels and restaurants, while decline was registered in real estate, professional, scientific and technical activities, electricity, gas, steam and air conditioning supply.
A recent United Nations forecast said the Georgian economy would grow 5.2 percent in 2023 and 4.6 percent in 2024.
The January report of the World Bank’s Global Economic Prospects said the Georgian economy’s 2022 growth had featured a "much stronger” domestic economic activity compared with expectations in the aftermath of Russia’s invasion of Ukraine.
However, the growth is expected to slow to four percent in 2023 and stabilise around five percent in 2024, the report also said.