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Economy

Economy of Georgia

Located between Europe and Asia on a historical “Silk Road”, the economy of Georgia is highly integrated with international markets.

Gross Domestic Product

Georgia has diversified GDP structure which is well-positioned for sustainable growth. Due to the devaluation of GEL to USD, the total GDP pointed in USD shows a drop in 2015 but actually GDP real growth rate in 2015 was 2.8%. The GDP compound annual growth rate of last 5 years from 2010 to 2015 reached 4.9 % and Georgia is widely expected to maintain steady growth for the years to come.

   
 

Public Debt

 

 

 The public debt performance of Georgia is favorable, with debt ratios in steady decline since 2003. 79% of public debt in 2015 was external and it was dominated by bilateral and multilateral debt. The reason behind the increase of public debt in previous year is the depreciation of Georgian Lari to foreign currencies in 2015.    

Inflation

Price stability is a fundamental factor for the country’s sustainable economic growth. The monetary policy of the National Bank of Georgia relies on a regime of inflation targeting, to maintain price stability and to minimize fluctuations in economic growth. At the current stage of economic development in Georgia, the inflation target is set at 5% for 2016 years, and for 2017  -  4%. For 2018, the inflation target of the National Bank of Georgia will decrease to its long-run level of 3%.   

Foreign Direct Investments

Stable political environment, liberal and free market economy, competitively priced workforce, only 6 flat taxes, preferential trade regimes and developed transport infrastructure makes country an attractive destination for foreign investments. Georgia has signed Bilateral Investment Treaties (BIT’s) with 32 countries and is member of ICSID Convention since 1992.

   


The investment climate and opportunities of Georgia attract investors from around the globe. The FDI inflow in 2013 amounted to USD 942 million and it reached USD 1,758 million in 2014, which is 87% increase compared to 2013. Preliminary number of FDI amounted to USD 1,351 million in 2015.

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