World Bank: Georgian economy to grow by 7.5% in 2024

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.

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}