Georgia’s economic growth reached 7.6% over the first 10 months of the year and is expected to remain at a similar level by year-end, exceeding even the International Monetary Fund’s revised projections, Prime Minister Irakli Kobakhidze said at a government session.

The Prime Minister attributed these results to the decisive renewal of the country’s economic team.

“Our economic team has been fundamentally renewed, and despite negative forecasts at the beginning of the year, we have achieved very strong results,” Kobakhidze said. “Economic growth for the first 10 months stands at 7.6%, and we expect to maintain this figure by the end of the year, surpassing the IMF’s adjusted projections. As a result of the team’s effective work, Georgia’s economy will exceed 100 billion GEL for the first time, reaching around 104 billion GEL.”

He added that per capita income will surpass $10,000, while purchasing power parity will exceed $30,000—both historic milestones for the country.

Kobakhidze noted that robust economic growth strengthens Georgia’s economic and political standing and, most importantly, improves the social conditions of the population.

Turning to public finances, the Prime Minister said state budget revenues have been fulfilled at more than 100%.

“External debt has fallen to 34% of GDP, compared to more than 60% in 2020. This is a direct result of sustained economic growth and effective economic management,” he said. “Despite early negative forecasts, the lari exchange rate has remained stable, and by the end of the year, foreign exchange reserves are expected to exceed $6 billion, which is critical for the country’s overall stability.”