Georgian economy shows stable growth

Georgia's GDP grew 11.8% year-on-year in April 2024, the Georgian National Statistics Service reported.

The average growth rate for the first four months of 2024 was determined at 9%.

Manufacturing, construction, information and communications, transport and warehousing, trade, professional, scientific and technical activities all made significant contributions to growth in April 2024 versus the corresponding period of the previous year, the statistics service said. However, there was a downward trend in the energy sector.

Georgia's National Bank improved its economic growth forecast in May from 5% to 5.6% this year, expecting inflation of 1.5% with a target of no more than 3%.

The Georgian government expects GDP to increase 5.2% in 2024, the World Bank and the EBRD forecast 5.2%, the IMF - 5.7%.