According to the governmental administration, the event will start at 14:00 at the Sheraton Grand Tbilisi Metekhi Palace hotel.

In 2023, amid the Russia-Ukraine war and the global economic crisis, Georgia's position in international rankings has not changed significantly but is enough for the government's economic team to be proud of.

Interestingly, Fitch affirmed Georgia at BB in 2007, the country has maintained the same position for 14 years. The same situation is in Standard and Poor's and Moody's: Georgia improved its position from BB minus in 2011 to BB in 2019, we are moving in a circle.

In 2023, Georgia’s positions in the global economic rankings are as follows :

Fitch

In summer Fitch Ratings affirmed Georgia's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB' with a Positive Outlook. Fitch forecasts GDP growth to ease from 6.9% in 2023 to an average 5% in 2024-2025, as support from migration flows and external demand weaken. This is close to our assessment of Georgia's trend rate, and compares favourably with the projected 'BB' median of 3.1%.

Strong net FDI of 6.7% of GDP in 2022 and near 6% (annualised) in 1Q23, and a sharp rise in money transfers from Russia contributed to 13% appreciation of the lari against the US dollar over the last year.

S&P Global Ratings

In August 2023, S&P Global Ratings affirmed its 'BB/B' long- and short-term foreign and local currency sovereign credit ratings on Georgia. The outlook is stable.

Real GDP growth will remain strong this year at 6.1%, on the back of immigration and financial flows, though down from 10.1% in 2022.Georgia's economy has continued to outperform, with real GDP growth averaging 7.6% over the first half of 2023 — S&P report reads.

Moody’s

Moody’s remained Georgia's sovereign credit outlook at 'Ba2' and changed the rating to 'negative' from 'stable'.

According to Moody's, the downgrade is also informed by a weaker assessment of capital adequacy due to the deterioration of asset performance in the context of the Russia-Ukraine war. in the current situation, Georgia is politically vulnerable duw to Russia - Abkhazia and South Ossetia frozen conflicts. It is also said in Moody's release that the Georgian economy maintains high flexibility and adequate buffers against economic and financial shocks. The organization positively evaluated the floating exchange rate.

Heritage Foundation

Georgia has secured the 25th position in the ranking  of Economic Freedom of the World, classifying it as one of the 41 free countries. The 2023 report, which covers data from 2021, shows Georgia advancing two steps compared to the previous year’s ranking.

The degree of economic freedom is measured in five broad areas: Size of Government, Legal System and Property Rights, Sound Money, Freedom to Trade Internationally, and Regulation.

Singapore secured the first place in the ranking, while Venezuela ranked last. Among Georgia’s neighbouring countries, Armenia claimed the 33rd position, Azerbaijan the 112th, Turkey the 101st, and Russia the 104th.

Georgia in the government debt rating

According to the updated report published by the International Monetary Fund in April 2023, at the end of 2022, the debt of the Georgian government stood at 39.8% of the GDP, and with this indicator of the debt burden, Georgia is 138th among 188 countries. 137 countries have heavier debt than Georgia, 50 countries have a lower debt burden. In 2021, Georgia was ranked 123rd with a debt of 49.7% of GDP. In 2022, the debt burden of the Georgian government declined by 9.9% compared to 2021 and Georgia improved its position in the ranking.

IMF forecasts that at the end of 2023, the debt of the Georgian government will be 40.5% of the GDP.

Ranking of the Global Innovation Index 2023

The World Intellectual Property Organization (WIPO) has published the rankings of the Global Innovation Index 2023, in which Georgia has advanced by 9 positions as compared with the previous year and ranks 65th among 132 economies.

The Global Innovation Index (GII) ranks 132 world economies according to their innovation capabilities. The GII aims to capture the multi-dimensional facets of innovation taking into consideration two sub-indices - the Innovation Input Sub-Index and the Innovation Output Sub-Index. Each is structured according to the main components and evaluation is based on up to 80 indicators in 7 thematic categories. It is noteworthy that in 2023 the rankings of Georgia have improved in both sub-indices.

The results of Georgia in the Global Innovation Index 2023 demonstrate the progress of the country in terms of economic and innovative development in particular areas, which is reflected in improvement of scores in various components. In the current year, the country data have improved considerably in 6 main components out of 7, including such areas as Institutions, Business sophistication, Human capital and research, Knowledge and technology outputs, Creative outputs and Infrastructure.