Georgia's population is aging due to low-replacement birthrates, improved life expectancy, and emigration of working-age people.
«Government can increase labor productivity of employees by increasing skill development and use of technology. Despite persistent labor shortages, a large gap remains between male and female labor force participation rates. Therefore, it is very important to introduce policies that will promote the inclusion of women in the workforce»- the Asian Development Bank’s report reads.
ADB has been supporting Georgia since 2007 and is one of the largest multilateral development partners of the country. ADB has provided 4 billion US dollars worth of loans, grants and technical assistance to Georgia. ADB's new five-year cooperation strategy with Georgia aims to help the country develop into a green and inclusive regional gateway, promote public and private sector investments, reforms, knowledge transfer, building climate-resilient infrastructure and regional integration.
As noted in the Asia Development Outlook April 2024, ADB's flagship economic publication, Georgia's gross domestic product (GDP) is expected to grow by 5% in 2024, rising to 5.5% in 2025 on the back of growth in tourism and investment.
