In his annual address to Parliament, Prime Minister Irakli Kobakhidze announced that Georgia's economy will exceed GEL 100 billion by the end of 2024 — a historic milestone. Since 2012, the economy has nearly quintupled, and GDP per capita has more than doubled to $9,140.
Kobakhidze highlighted strong economic indicators: 9.4% growth in 2024, unemployment at a historic low of 13.9%, and $4.4 billion in tourism revenue. Georgia now leads both Europe and the region in growth rates, with IMF projections supporting continued leadership through 2030.
Key priorities include:
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Energy independence by 2030 (4 new HPPs built; 5,000 households newly connected to gas)
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Poverty reduction to 4% by 2028 (down from 1.1 million in poverty in 2012 to 350,000 in 2024)
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Job creation: Over 185,000 jobs added since 2022; unemployment halved since 2012
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Wage growth: Avg. salary rose to GEL 2,170 in 2025 Q1, with a target of GEL 3,500 by 2028
Major infrastructure and investment projects are underway, including:
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The $6B Emaar project from the UAE
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Anaklia Deep Sea Port ($600M phase one by 2029)
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Railway upgrades to increase capacity from 27M to 48M tons
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Baku-Tbilisi-Kars rail link, now 98.5% complete
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70 new hotels and record 7.4M international travelers in 2024
Fiscal discipline remains strong with inflation at 1.1%, budget deficit at 1.9%, and government debt down to 36.1% from over 60% in 2020.
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