PM Kobakhidze hails World Bank’s revised 7% growth forecast for Georgia

Georgian Prime Minister Irakli Kobakhidze on Wednesday said the World Bank had raised its economic growth forecast for Georgia to 7%, an increase of two percentage points from its previous projection, citing positive trends in the country’s economy.

Kobakhidze said the revised forecast reflected the strong economic performance recorded throughout the year

“The World Bank has published an updated forecast for economic growth. This forecast has been increased to 7%”, he said.

“Previously, in June, the World Bank’s forecast stood at 5%. It has now been revised upward by two percentage points, from 5% to 7%, reflecting the positive trends in the Georgian economy during the current year”, the Prime Minister added.

Kobakhidze noted that the updated forecast was 2.6 times higher than the average projected growth rate for other EU candidate countries.

He also highlighted the World Bank’s outlook for the coming years, saying Georgia was expected to record the highest economic growth rate among European countries in 2026, 2027 and 2028.

“It should also be noted that, according to the World Bank’s forecast, Georgia will have the highest economic growth among European countries over the next three years. Maintaining this trend remains one of our top priorities”, Kobakhidze said.