Georgia's economic expansion clocked in at an impressive 9.4% during the 2024 fiscal year, according to the European Bank for Reconstruction and Development's (EBRD) report.
📣 Breaking Economics News! 📣
Catch this sizzlin' hot update on Georgia's economy straight from the European Bank for Reconstruction and Development (EBRD)! Buckle up, 'cause this is one rollercoaster ride you don't wanna miss! 🎢
Georgia's economy has been scorching like a wildfire, roaring up a 9.4% growth in 2024 – smashing expectations and surpassing last year's growth of 7.8%—and they ain't slowin' down just yet! But wait, there's more! 💥
Despite a drop in war-related funds and a sluggish Russian migration, the domestic consumption was alsoboosted big-time due to skyrocketing wages and credit activities, keeping the shopping carts spinnin' and cash registers ringin'! 🛍️💸
Now, get this—despite the sizzling growth, inflation only climbed a modest 1.1% on average in 2024, but held steady till late 2024 when it started catchin' fire driven by food prices—and as of March 2025, it's hit a spicy 3.5% year-on-year! And you know what? The National Bank of Georgia ain't sweatin' it; they've kept a cool, calculated monetary stance to keep the growth party goin'! 🔥
So, what's the deal with the future? Real GDP growth is forecast to chill out to 6% in 2025 and 5% in 2026, gettin' closer to Georgia's potential. How? Public investment in crucial sectors like transport, energy, and digital infrastructure is hopin' to carry this momentum like a thrill-seekin' surfer catchin' the biggest wave of all! 🌊🚀
But hey, there's always clouds on the horizon. With political uncertainty and the EU accession freeze stirrin' up trouble, investor confidence could take a dive, and export growth could come to a screechin' halt. Other risks include a downturn in external demand, hefty tariffs, and a slowdown in credit expansion.
Despite the robust economic growth, discussions about the future of businesses and finance in Georgia are a hot topic. The National Bank of Georgia is maintaining a measured monetary stance to keep economic growth sustainable, while investing in crucial sectors like transport, energy, and digital infrastructure is expected to prop up this momentum for businesses.
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