According to Sakstat preliminary data, in August 2023, real gross domestic product (GDP) grew 5.8 percent compared to the corresponding period of the previous year.

The average rate in the first eight months stood at 7.0 percent. Prime Minister Irakli Gharibashvili spoke about the country’s economic growth at the government meeting noting that the current indicators are "very strong" and the growth was caused by the steps taken by the government.


Commersant offers economic growth forecasts for 2023 made by organizations:

The government’s official forecast - 6.5%


In the first half of 2023, Georgia’s real economic growth stood at 7.6%. In the second half the economic growth forecast is still projected conservatively, the updated forecast for economic growth in 2023 is 6.5% instead of the previous 5%.

National Bank of Georgia (NBG) - 6%

The Central Bank has upgraded forecast for Georgia’s economic growth from 5 to 6 percent by 2023, however, Natia Turnava, Acting President of the National Bank of Georgia, does not rule out that this year’s economic growth will be even higher than 6 percent.


EBRD - 6%

The report published in May 2023 says that EBRD predicted a 5% economic growth in Georgia, and according to the September report, the EBRD expects Georgia’s economy to grow by 6%.

The International Monetary Fund (IMF) - 4%

According to the International Monetary Fund, the country's economy grew 10.1% in 2022 but it will be difficult to maintain this rate and according to the IMF forecast, in 2023 GDP will grow by 4.0%. In 2024, the economy is forecasted to grow by 5.0%.

World Bank (WB) — 5%

The World Bank expects that Georgia’s growth rate will decrease to 4.4% in 2023 due to the expected decline in economic growth among trading partners. Despite it all, the country's economy is expected to stabilize at 5% in the medium term.



The Asian Development Bank (ADB) — 6%

According to the Asian Development Outlook (ADO) September 2023, an update of ADB's flagship publication, Georgia's gross domestic product (GDP) is expected to stand at 6% in 2023 up from the 4.5 percent projected in April. Economic growth will remain at 5% in 2024 amid a return of the country's economic growth potential and a slowing global expansion.

TBC Capital - 7.2%

TBC Capital predicted a 5% economic growth early this year, but has revised its growth forecast several times