Georgian economist challenges “Moldovan miracle” narrative with int'l data

Giorgi Abashishvili, founder of Business Insider Georgia, has publicly criticized what he calls “unqualified myths” surrounding the so-called “Moldovan miracle,” emphasizing that Georgia outperforms Moldova across a wide range of key economic indicators, according to data from leading international financial institutions.

In a social media post, Abashishvili compared Georgia and Moldova by citing figures from organizations such as the International Monetary Fund (IMF), European Bank for Reconstruction and Development (EBRD), World Bank, and several credit rating agencies.

“Georgia, constantly under political pressure, is being compared to Moldova as a supposed model. Let’s look at the numbers — and only those from international financial institutions,” he wrote.

Key points highlighted by Abashishvili include:

- IMF Forecast: Georgia’s projected economic growth in 2025 is 12 times higher than that of Moldova.

- EBRD Outlook: Following Georgia’s 2024 parliamentary elections, the EBRD upgraded Georgia’s growth forecast by 1.4%, while downgrading Moldova’s by 1.5%.

- Governance and Corruption: According to the World Bank, Georgia surpasses Moldova by 33 percentage points in government effectiveness and 25 points in corruption control.

- Economic Freedom: In the Heritage Foundation’s Index of Economic Freedom, Georgia ranks 62 places higher than Moldova. It is classified as a "free" country in terms of investment and financial freedom, while Moldova is labeled "mostly unfree."

- Global Indices: Georgia leads Moldova by 17 places in the Legatum Prosperity Index and by 11 places in the WIPO Global Innovation Index.

“These are just a few examples from a much broader list,” Abashishvili noted. “The fact is, no international financial institution, rating agency, or global economic think tank places Moldova anywhere near Georgia. Any claims to the contrary are purely politically motivated and part of a broader effort to undermine Georgia.”