Georgia was projected to experience the highest rate of economic growth this year compared to other countries in the wider region, according to the Asian Development Bank’s [ADB] latest report. Such a statement made today the Deputy Economy Minister of Georgia.

“According to the report, the inflation forecast in Georgia has been revised towards the reduction and amounted to an average of 2.5%. Also, the ADB highlighted [in its report] the reduced unemployment owing to the rapid economic growth, under the data of the second quarter of 2024, it fell to a historical minimum - 13.7%.

We have positive expectations, the trend of rapid economic growth would continue further in the coming months and would be higher than the forecast of the international financial institutions”, - said Vakhtang Tsintsadze.

The ADB report said in 2024, Georgia would have the “highest economic growth” not only among the Caucasus and Central Asian countries but also among the East Asian, South and Southeast Asian ones as well.