Georgian Economic Climate (Q1, 2023)

The main findings of the survey of Georgian economists conducted in the first quarter of 2023 are:

• The surveyed Georgian economists positively assess Georgia’s present economic situation.
• Though their predictions for Georgia’s economic situation for the next six months are negative.
• The surveyed Georgian economists’ prediction for real GDP growth for 2023, on average, is 5.5%.
• Almost 83% of the surveyed economists think that Russia’s war in Ukraine currently represents a high or very high threat to the Georgian economy. Meanwhile, a skills mismatch was assessed as a very high threat by nearly half of the surveyed economists (44%).
• One third of respondents (33%) think that the “GOG Vision 2030 – Development Strategy of Georgia” partially responds to the challenges and problems faced by Georgia but none of the respondents think that the strategy fully addresses them.
• Regarding the EU Commission’s analytical report on Georgia’s alignment with the EU acquis, the majority of surveyed economists (75%) think that introducing improvements with respect to the environment and climate change mitigation in line with the EU acquis will be challenging or very challenging.