**Georgia’s Economy Booms: Record-Breaking Growth and Low Unemployment**
In a report set to be presented to Parliament on June 27, Prime Minister Irakli Kobakhidze revealed that Georgia has achieved one of the fastest-growing economies in the world. The country’s average economic growth for the period 2021-2024 was an impressive 9.7%, with a growth rate of 9.4% in 2024.
This remarkable growth is attributed to both strengthening domestic consumption and increasing exports, particularly in the services sector. Tourism and transportation revenues have also seen a significant increase. The positive economic trend continues into 2025, with a first-quarter average growth of 9.3%.
**Low Inflation and Record-Low Unemployment**
Another notable achievement is Georgia’s low inflation rate, which averaged just 1.1% in 2024. This stability is a result of productivity growth and sound fiscal and financial policies. The labor market has also shown significant improvement, with the unemployment rate decreasing to a record-low 13.9% and the number of employed people reaching a historical maximum of 1.4 million.
**Social Progress and Human Rights**
The Georgian government continues to prioritize human rights protection, ensuring democratic governance and strengthening institutional systems for safeguarding these rights. The implementation of the 2022-2030 Human Rights Protection Strategy remains an active priority.
In addition, the government has made significant strides in social welfare. Pensions have increased by indexation, with further increases planned for 2025. Targeted assistance programs are also in place to support vulnerable groups, including those living in mountainous regions and children.
**Education Reforms and Infrastructure Development**
Education reforms have been implemented at all levels, aiming to improve access, quality, and equity. Standards have been improved across pre-school, general, vocational, and higher education systems. Bilingual programs for ethnic minorities are also being widely introduced. Teacher salaries have increased, and infrastructure development projects continue to be actively implemented.
**Territorial Integrity and Defense Capabilities**
The Georgian authorities remain committed to resolving the conflict peacefully and ensuring the territorial integrity of the country. Diplomatic and legal efforts are ongoing to gain international support and implement the 2008 ceasefire agreement. The government is also working to facilitate the return of refugees and internally displaced persons, protect human rights, and reconcile the population divided by the occupation line.
In terms of defense capabilities, significant progress has been made in strengthening national resilience, territorial defense, and resistance elements. The Georgian Defense Forces are actively participating in NATO programs and international military exercises.
**A Strong Future Ahead**
The Prime Minister’s report paints a positive picture of Georgia’s future. With its strong economic growth, low inflation, and record-low unemployment, the country is well-positioned for continued progress. The government’s commitment to human rights protection, social welfare, education reforms, and territorial integrity bodes well for the nation’s development.
As the Prime Minister presents this report to Parliament on June 27, it will be interesting to see how these achievements are received by lawmakers and what steps will be taken to build upon them.
Read More @ www.interpressnews.ge
