Georgia raises growth forecast for Georgian economy in 2024

In its weekly review, TBC Capital spoke about the prospects for the Georgian economy in 2024. According to analysts, growth will exceed 6% under the base scenario.

Previously, Georgia's GDP growth was forecast at 5.6%. Analysts report that recent macroeconomic indicators point to strong economic growth.

"Even against this background, economic growth of 9.5% in February exceeded expectations",

TBC Capital said.

The company noted that in addition to the increased inflow of foreign currency and investment demand, a fairly high fiscal stimulus since the beginning of the year and a significant improvement in the effect of migration stand out.

It should be added that this February the Georgian economy increased by 9.5% compared to last year's figures. Since the beginning of the year, economic growth has amounted to 7.7% compared to the first two months of 2023.