The World Bank’s recent economic report states that the Georgian economy will grow by 7.5% in 2024, exceeding its own potential growth rate. The drivers behind the increase are household consumption, government spending, and strong investments.
The report also mentions the role of re-distributions to Central Asia, specifically of used cars, which has significantly increased. However, the trade gap is projected to remain low.
In the medium term, the WB forecasts growth at 5%, in line with Georgia’s potential rate. The report also emphasizes primary risks such as insecurities surrounding the upcoming elections.
