Deputy Economy Minister: IMF sees Georgia having “highest” medium-term growth among European countries
Irakli Nadareishvili, the Deputy Economy Minister of Georgia, on Friday said the International Monetary Fund had predicted Georgia to have the highest growth among European countries in the medium term. Photo: Ministry of Economy
Tweet 
Share
Irakli Nadareishvili, the Deputy Economy Minister of Georgia, on Friday said the International Monetary Fund had predicted Georgia to have the highest growth among European countries in the medium term.
Nadareishvili cited the report as saying the country’s growth would be 5.7 percent in 2024 and 5.2 percent in 2025.
The official added the IMF report also included the per capita gross domestic product indicator based on purchasing power parity, which ranked Georgia ahead of the five candidate countries for European Union membership.
He said Georgia’s indicator of the GDP per capita based on the purchasing power parity was 41 percent of the EU’s in 2023, while by 2029 it would cross the 51 percent threshold.
Nadareishvili claimed the IMF report “demonstrated the consistency” of the country’s economic policy.
He said the Government's economic growth forecast was “more optimistic” and it expected the IMF and other international financial institutions would revise their own forecasts accordingly.
Georgia has been listed among the top three countries in three different categories of the 10-year growth forecast of the International Monetary Fund, with the ranking released this week.
The World Bank on Thursday published the Macro Poverty Outlook report of Europe and Central Asia, highlighting that Georgia “has made notable gains in income growth and poverty reduction” in the past decade.
The World Bank on Thursday released its Economic Update for Europe and Central Asia, estimating the Georgian economy to grow by 5.2 percent in 2024.
Georgia's gross domestic product has been forecast to grow by five percent this year by the Asian Development Outlook, the flagship annual economic publication of the Asian Development Bank.