Geostat has released its rapid estimate of real GDP growth for December 2023. The estimated growth stands at 8.3%, while the average annual real GDP growth reached 7%.
In January 2024, Georgian power plants generated 1,175 mln. kWh of electricity. This represents a 6% increase in the total generation compared to the previous year (in January 2023, the total generation was 1,111 mln. kWh).
For the first quarter of 2024, business confidence in Georgia decreased slightly (by 0.4 index points) and reached 17.7. The highest decrease in business confidence is observed in the trade (-15.1) sector. The negative change in BCI for Q1 2024 was driven by decreased past performance as well as less optimistic expectations.
On 13 February, the ISET Policy Institute and the USAID Economic Governance Program, within the framework of a joint project, hosted a roundtable discussion regarding the various challenges and prospects of digital transformation in the tourism industry.
Georgia is committed to various international agreements on climate change, notably the Paris Agreement and the Association Agreement with the European Union. Recently, in 2021, Georgia announced a new Nationally Determined Contribution, pledging to reduce greenhouse gas emissions by 35% compared to 1990 levels.