PM: Georgia posts 7.7% growth in first three quarters

Georgia’s economy grew by 7.7% in the first three quarters of the year, Prime Minister Irakli Kobakhidze said during a government meeting on Friday.

Kobakhidze noted that the performance exceeded the International Monetary Fund’s latest growth projection of 7.2%, and suggested the country was on track to outperform that forecast by year-end.

The prime minister stressed that maintaining strong economic momentum remained one of the government’s “key priorities,” highlighting the link between stable growth and currency strength.

“Economic growth enables the exchange rate to remain stable,” Kobakhidze said, expressing satisfaction that Georgia’s foreign exchange reserves have now risen to $5.6 billion, which he called a “record high.”

He thanked the National Bank and its president for contributing to currency stability.

Kobakhidze added that new major investments were moving into the implementation phase and were expected to further support future growth.

“Maximum attention must continue to be given to the economy,” he stated, calling economic development one of the government’s central policy focuses.