Georgia’s strong economic performance, prudent fiscal management, and declining unemployment have been commended in a recent European Commission report, according to Vakhtang Tsintsadze, Deputy Minister of Economy and Sustainable Development.

Tsintsadze commented on the Commission’s newly released economic forecast, which outlines trends across Europe and the global economy. He highlighted that Georgia achieved exceptional economic growth in 2024, recording a 9.4% increase — significantly outpacing other EU candidate countries.

“The report emphatically notes that Georgia achieved very high economic growth in 2024, reaching 9.4%,” Tsintsadze stated. “It also details how effective economic and monetary policies have helped keep inflation below target levels, and highlights a continued decline in unemployment. Furthermore, the report recognizes Georgia’s commitment to fiscal consolidation and the progress made in that area.”

Looking ahead, the European Commission projects a 6% growth rate for Georgia in 2025 — double the average forecast for other candidate countries. Tsintsadze emphasized that Georgia’s 2024 growth was three times higher than that of its peers and expressed confidence in continued strong performance.

“We expect the trend of high economic growth to persist through 2025 and 2026, potentially exceeding current forecasts by various financial institutions,” he added.