Galt & Taggart has revised its 2025 economic growth forecast for Georgia upward, raising its projection from 6.8% to 7.5%.

According to the investment bank’s latest economic review, the revision is based on stronger-than-expected performance in the first five months of the year. In May 2025, Georgia’s economy grew by 7.5% year-on-year, matching the growth rate of the previous month. Real GDP growth for January–May 2025 reached 8.8% annually.

The strongest growth drivers in May were the ICT sector, manufacturing, trade, transport and warehousing, and construction, while a decline was recorded in the energy sector.

Additional forecasts from Galt & Taggart include:

• Average annual inflation of 3.7%

• Refinancing rate to remain at 8% for 2025

• Average exchange rate: 2.78 GEL/USD

• Tourism revenue expected to reach $4.5 billion

These figures reflect continued economic momentum and resilience across key sectors of the Georgian economy.