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Overview

Country Context

Georgia

2021

Population, million

3.7

GDP, current US$ billion

18.7

GDP per capita, current US$

5,015

Life Expectancy at birth, years

73.4

Georgia has had a successful development record, underpinned by prudent economic management over the past decade. Growth averaged 4 percent per annum between 2011 and 2021. The poverty rate measured by the international upper-middle-income line (US$5.50 per capita per day, 2011 purchasing power parity [PPP]) declined from 59 percent in 2011 to 42 percent in 2021. Nevertheless, critical structural challenges remain, particularly weak productivity and the need to create high-quality jobs. Many Georgians remain in rural areas engaged in low productivity agriculture. Measures of human capital continue to be weak, with poor learning outcomes and a lack of linkages between education and private sector needs. In addition, Georgia’s trade openness and reliance on income from tourism make it vulnerable to external and global shocks. High dollarization and persistent reliance on external savings further amplify risks. Still, the swift post-pandemic rebound has demonstrated the growing maturity and resilience of Georgia’s economic institutions.

Last Updated: Apr 19, 2022

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Georgia: Commitments by Fiscal Year (in millions of dollars)*

*Amounts include IBRD and IDA commitments

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Tbilisi, Georgia
5A, Nino Ramishvili Str., Tbilisi, Georgia 0179
+995-32-291-30-96
+995-32-229-62-21