Georgia: Economic Stability and Investment Leadership

Georgia has received a well-deserved high assessment for its economic stability and attractive investment conditions. Deputy Minister of Economy of Georgia, Irakli Nadareishvili, stressed that the country remains a leader in the region due to favorable conditions for entrepreneurs and investors.

The report of the US State Department on the state of the investment environment for 2023 confirmed the attractiveness of Georgia for business and investment. Having studied Bloomberg data for 2022, the State Department noted that Georgia ranks 13th in the world in terms of investment interest of foreign companies. This result indicates a high level of investor optimism, exceeding the global average.

Thanks to the extensive economic reforms carried out since 1991, Georgia has created a stable market economy. The average growth rate in the period from 2005 to 2022 was more than 5%, and Georgia's rating in various economic and managerial indicators was continuously improving.

Despite the challenges associated with global and regional crises, Georgia's economy continues to show resilience. In 2020, the country faced a 6% economic contraction due to the COVID-19 pandemic, but recovered in 2021, reaching 10.4% growth. In 2022, the growth was 10.2%, which exceeded expectations.

The positive results can be explained by the increase in income from tourism, migration and financial flows, as well as the intensification of transit trade through Georgia. The Government seeks to use the strategic position on the Black Sea to turn the country into a key transit and trade East-West corridor.

However, economic success does not exclude challenges. Inflation remains elevated due to rising commodity prices and strong domestic demand. But the Georgian authorities are preparing to take the necessary measures to cope with possible challenges and maintain the stability of the economy.

In general, Georgia continues to attract the attention of investors and entrepreneurs due to its economic stability, attractive conditions and consistent reforms. The Government is striving to improve the business environment and continues to make efforts to solve existing problems. As a result, Georgia continues to hold a leading position in the region and attracts the attention of global investors.