IMF projects strong long-term growth for Georgia through 2031

The International Monetary Fund has released its long-term global economic outlook, highlighting Georgia as a top-tier performer in both historical progress and future projections. According to the data, Georgia is positioned to be a global leader in the growth of real GDP per capita and Purchasing Power Parity.

Economic prosperity is measured in the report using real GDP per capita and purchasing power parity (PPP) GDP per capita. Based on these metrics, IMF projections cited in the report place Georgia among the top three globally in terms of long-term improvement in real and PPP-adjusted economic well-being between 2013 and 2031, and first in the Eurasia region.

The IMF estimates that Georgia’s real GDP per capita will grow by a cumulative 25.7% during 2024–2026. This places the country second globally for three-year growth, behind Guyana.

Over the broader 2024–2031 period, Georgia is projected to record a 61% increase in real GDP per capita, which would rank first in Eurasia. Over the same period, Bhutan is projected to grow by 58% and India by 57%, according to the report.

Looking at longer-term trends since 2012, when the ruling Georgian Dream party came to power, the IMF assesses that Georgia ranks among the world’s top five for real GDP per capita growth between 2013 and 2025, and among the top three globally over the extended 2013-2031 period, while remaining first in Eurasia. Over this timeframe, Georgia’s real GDP per capita is projected to increase by 175%, with India following at 163%.

In terms of PPP-adjusted GDP per capita, Georgia is also projected to lead Eurasia in growth between 2024 and 2031. The indicator is expected to rise by 91% during this period, surpassing $47,750 by 2031.

Historically, from 2013 to 2025, Georgia’s PPP-adjusted GDP per capita has tripled, exceeding $31,352, and is projected to reach $33,990 in 2026. This would narrow the gap with EU member Greece by five years. For comparison, Greece last recorded a similar level - around $33,000 - in 2021, marking its historical peak. In 2012, Georgia’s PPP-adjusted GDP per capita stood at $10,358, placing it approximately 30 years behind Greece at the time.

The IMF also estimates that Georgia’s nominal PPP-adjusted GDP per capita will grow by 36% over 2024-2026, again ranking second globally after Guyana in three-year growth.

In nominal terms (in US dollars), Georgia’s GDP per capita is expected to maintain double-digit growth in 2026, reaching 11.9% and $11,574. The IMF projects continued increases to $12,664 in 2027, $13,879 in 2028, $15,229 in 2029, over $16,720 in 2030, and $18,353 by 2031.

The IMF forecasts that Georgia’s nominal GDP growth in US dollar terms will average around 10% annually between 2026 and 2031.