World Bank projects Georgia's economy to grow

The Georgian economy has been projected to grow 5.2% in 2024 in the June edition of the World Bank’s Global Economic Prospects report.

The growth is projected to ease this year in the country as a result of tight monetary policy, declining money transfer inflows and a slowdown among trading partners.

“There are significant risks to the outlook, including those stemming from geopolitical uncertainties” the report reads.

However, the growth forecast is still higher in June’s edition compared to the January one, when a 4.8% growth was projected.

The report says the Georgian economy expanded by 7.5% in 2023 after two years of double-digit growth, driven by “strong investment”. It said economic activity remained robust in 2024, growing by 9% year-on-year in the first four months.