, the Georgian economy grew by 9.4% in the first 11 months of 2024. In addition, the Ministry of Finance expects the country's economic growth to be 9%. Taking into account the above forecast, the size of Georgia's GDP will reach 90.9 billion GEL this year, and in 2025 it will increase to 99.2 billion GEL. In addition, the government predicts 6% economic growth in the country for 2025, similar to the forecast of the International Monetary Fund (IMF), which expects 6% growth in Georgia.
In 2024, the lari depreciated by 4.3% against the US dollar.
During 2024, the GEL depreciated by 4.3% against the US dollar. If on January 1, 2024, one dollar was worth 2.68 GEL, now it is worth 2.80 GEL. Unlike the dollar, the GEL has strengthened against the euro, Australia business fax list because on January 1, one euro was worth 2.97 GEL, and currently its price is 2.93 GEL. The reason for this is the 6% depreciation of the euro itself against the dollar during the current year.
During 2024, the GEL experienced two waves of devaluation, both of which were politically motivated - the first in the spring, which followed the Georgian Dream parliament's return of the Russian law. Then, the value of one dollar rose to GEL 2.87, although in the subsequent summer months its exchange rate returned to around GEL 2.70. The second wave of devaluation began after November 28, 2024, which followed the statement of Prime Minister Irakli Kobakhidze, elected by the Georgian Dream single-party parliament, that Georgia would not put accession negotiations with the European Union on the agenda until 2028.
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