The Executive Board of the International Monetary Fund (IMF) completed the Article IV Consultation for Georgia on a lapse of time basis on July 21, 2025. The authorities have consented to the publication of the Staff Report prepared for this consultation.
The Georgian economy has performed remarkably well despite elevated domestic and geopolitical uncertainty. Annual growth has averaged over 9 percent since 2021, headline inflation has returned to target after undershooting for two years, and public debt declined to 36 percent of GDP in 2024.
Looking ahead, growth is projected to ease to 7.2 percent in 2025 and converge to its potential rate of 5 percent in the medium term as domestic demand decelerates. Inflation is expected to remain near target and public debt to stabilize near current levels with continued prudent monetary and fiscal policy.
Amid heightened domestic and global uncertainty, priorities are building further reserve buffers and advancing structural reforms to safeguard resilience to shocks and sustain strong, inclusive, and job-rich growth.
