Georgian PM: Poverty falls below 10% for first time since 1980s

Georgian Prime Minister Irakli Kobakhidze has announced that, for the first time since the 1980s, the country has recorded a single-digit poverty rate — a milestone he described as “very encouraging.”

Speaking to Georgian journalists during a visit to Budapest, Kobakhidze said the poverty rate has dropped to 9.4%, down from 11.8% just a year earlier, marking a 2.4 percentage point decrease between 2023 and 2024.

“When the Georgian Dream came to power in 2012, more than 1.1 million people were living below the poverty line. Today, that number is under 350,000,” Kobakhidze stated. “This is a historic achievement and a clear sign that we are making rapid progress in overcoming poverty.”

He emphasized that poverty reduction remains one of the government’s top priorities and credited strong economic growth for the progress. Kobakhidze said the government’s goal is to bring the poverty rate down to below 4% by 2028 — a target he believes is fully achievable if the current pace continues.

“We’ve not only met but surpassed the projections made by international financial institutions,” he added.

Kobakhidze also took aim at the previous administration led by the United National Movement, saying their claims of economic success were contradicted by high poverty levels during their tenure.

“Our task is to sustain this pace through continued economic growth. Reducing the number of people living in poverty from over a million to fewer than 350,000 is a major achievement, and we aim to push this even further,” the Prime Minister concluded.