Georgian Economic Climate (Q3, 2023)

In this bulletin, which is based on the ifo Institute’s methodology, we discuss Georgia’s economic climate, informed by the assessments of various Georgian economists.

The main findings of the survey of Georgian economists conducted in the third 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.
• 93% of the surveyed economists think that a labor shortage currently represents a high or very high threat to the Georgian economy.
• Almost 78% of the surveyed economists named a high emigration rate as a high or very high threat.
• With Turkish Lira hitting a record low, 78% of the surveyed economists think that the decreasing competitiveness of domestic products against cheaper imports from Turkey will have at least a high impact on the Georgian economy.