Georgian Economic Climate (Q2, 2023)

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

• Georgian economists have a positive assessment of Georgia’s present economic situation.
• Though their predictions for Georgia’s economic situation for the next six months are negative.
• 63% of the surveyed economists think that Russia’s war on Ukraine as well as labor market problems like skills mismatch and labor shortage (lack of qualified personnel) currently represent a high or very high threat to the Georgian economy.
• More than one year since Russia launched its war on Ukraine, nearly half (47%) of the surveyed economists claimed they are uncertain about how to assess the overall impact of the war on the Georgian economy.
• Almost 90% of the economists agree with the decision of National Bank of Georgia (announced on 10 May, 2023) to loosen its monetary policy and decrease the policy rate by 0.5 percentage points from 11% to 10.5%.