Georgian PM opens regional central bank meeting, claims ‘strong economic growth’

Prime Minister Irakli Kobakhidze has opened a meeting of central bank governors from across the region, organised by the National Bank of Georgia and J.P. Morgan.

Speaking at the event on Friday, Kobakhidze highlighted the importance of the meeting and presented Georgia’s recent economic performance and developments in its financial sector.

He said geopolitical tensions, changes in trade and investment flows, financial market volatility and rapid technological developments were reshaping the global economic landscape.

“For countries such as Georgia, which have open economies and strong regional and international ties, these developments further underline the importance of a healthy economy and the ability to adapt to an increasingly complex environment,” Kobakhidze said.

He claimed Georgia has demonstrated “strong economic resilience” over the past five years while maintaining steady growth.

Kobakhidze further stressed real GDP grew by an average of 9.3% annually between 2021 and 2025, placing Georgia among the fastest-growing economies in the region and globally.

He said the trend had continued in 2026, with economic growth reaching 7.9% in the first seven months of the year.

Kobakhidze attributed a significant part of the growth to high-productivity sectors, including information and communications, financial services and transport, alongside an improvement in Georgia’s external balance.

He also pointed to the country’s “macroeconomic stability” and claimed average inflation stood at 1.8% in 2023-2024.

However, annual inflation reached 5.6% in August 2026, which he attributed primarily to external factors, including rising global oil prices linked to the conflict in the Middle East.

Kobakhidze also said Georgia had substantially increased its foreign exchange reserves.

“Since October 2024, Georgia’s foreign exchange reserves have doubled and reached a historic high,” he said.

The PM also discussed the role of the financial sector in economic development and the growing international recognition of Georgian financial institutions.

He said the Georgian government would continue working on the development of capital markets and on creating a more competitive environment for investment.

National Bank of Georgia President Natia Turnava also addressed the meeting, saying that gatherings of this format would help deepen regional dialogue and strengthen cooperation between central banks.

“J.P. Morgan has already held meetings in this format on different continents, and we are pleased to host the first such event in our region,” Turnava said.

She expressed hope that the meeting would establish a new tradition, with other countries in the region hosting similar roundtables in the future.

Turnava noted the Tbilisi meeting had brought together representatives of around 15 central banks, development organisations and financial-sector institutions.

She highlighted such meetings provide an opportunity not only to exchange views on issues affecting the development of regional economies, but also to facilitate open discussion, share experience and strengthen institutional ties.

“In today’s turbulent global economic environment, we are proud that Georgia’s economy and financial sector have demonstrated notable resilience, stability and growth,” Turnava said.

She also pointed to Georgia’s foreign exchange reserves, saying that their reaching a historic high had strengthened the country’s ability to withstand external shocks and maintain macroeconomic stability.

The roundtable was attended by presidents and vice-presidents of central banks from around 15 countries, as well as representatives of J.P. Morgan, the World Bank and the Asian Development Bank.