European Commission report highlights Georgia’s economic growth

The European Commission’s latest country report highlighted Georgia’s robust economic performance in 2024, noting a 9.4% increase in gross domestic product (GDP) fuelled by strong private and public consumption, expanding employment, and growing investment.

The report emphasised that both private and Government consumption played central roles in driving economic growth.

“Gross domestic product growth reached 9.4 % in 2024. The most important growth drivers were private and government consumption, stimulated by sharp wage increases, expanding employment, and rapidly rising consumer loans. Over the same period, investment continued to grow, supported by rising business loans, strong corporate financial results, and robust public investment”, the report noted.

“Growth appears sustainable, but it remains subject to downside risks, stemming in particular from heightened political instability and an uncertain international environment”, the report concluded.