The government’s economic growth forecast for 2024 stands at 5.2%.
According to the key economic and financial indicators outlined in the proposed changes for the 2023 budget, the base scenario projects a 5.2% increase in real GDP and an 8.4% rise in nominal GDP for 2024.
In the base scenario, the nominal GDP is expected to reach 85,370.6 million Georgian Lari (GEL), equivalent to 32,460.3 million US Dollars (USD) in 2024.
Projections for 2024 anticipate a GDP per capita of 8800.1 dollars. In terms of inflation, the forecasts for 2024 are as follows:
– The consumer price index is slated to be 2.8% during the middle period.
– By the end of the period, the consumer price index is expected to reach 3%.
– The GDP deflator is projected to be 3%.