In short
Georgia's real GDP grew by 7.5% in 2025, according to Geostat's preliminary figures. Inflation was 5.6% in September 2026, above the National Bank's 3% target. The bank raised its policy rate to 8.25% on 6 May 2026 and has left it unchanged since, most recently on 21 October 2026. S&P and Fitch rate Georgia BB and Moody's Ba2, all three below investment grade.
All figures with sourcesWe report only published figures and make no forecasts of our own. Every figure states the period it covers.
What the figures mean for ownersThe figures
Reviewed on 3 November 2026. Newer figures are available from each source.
Real gross domestic product rose by 7.5% in 2025, according to preliminary figures, which Geostat revises later. It publishes a rapid growth estimate every month and GDP every quarter. Foreign direct investment is also published quarterly and revised later.
Consumer prices were 5.6% higher in September 2026 than a year earlier, according to Geostat's release of 2 October 2026. The August rate was also 5.6%. The National Bank's target is 3%. Geostat publishes the inflation rate in the first days of the following month; the October figure was published on 3 November 2026.
The National Bank's Monetary Policy Committee raised the rate by 0.25 points to 8.25% on 6 May 2026 and kept it there at later meetings, most recently on 21 October 2026. Dates and decisions are listed in the committee decisions series on nbg.gov.ge.
The National Bank's overview shows Georgia at BB with S&P Global Ratings and Fitch since 2019, and at Ba2 with Moody's in every year listed. According to National Bank announcements, S&P affirmed BB on 8 August 2026 and raised the outlook from stable to positive. Moody's affirmed Ba2 on 1 July 2026 and raised the outlook from negative to stable. Fitch affirmed BB with a stable outlook on 22 November 2025.
On 10 June 2026 the IMF Executive Board commended Georgia's good macroeconomic performance. Monetary policy should remain "appropriately tight and data-dependent" to bring inflation durably back to target, and the Board called for continued vigilance over rapid credit growth and unhedged foreign-currency exposures.
For owners
Macroeconomic figures describe the backdrop, not the value of a particular flat. This is how they connect with your position as an owner.
Rising incomes support demand for rented flats, especially in Tbilisi. One year's growth does not, however, translate into a price for your flat.
Rising prices push up the cost of fitting out and of running costs paid in lari. Rents in lari lose purchasing power unless they are adjusted. Many sale prices and rents are quoted in US dollars.
The policy rate drives the cost of borrowing in lari. It feeds most directly into the costs of buyers with a lari mortgage and of developers who borrow in lari.
Ratings assess the state's ability to service its debt. They affect how cheaply the government and banks can borrow abroad. They say nothing about an individual property.
Money sent home by Georgians working abroad and spending by tourists support incomes and foreign-currency inflows. The National Bank publishes money transfers monthly; tourism figures have their own guide.
Frequently asked questions
Growth, inflation, ratings and where to find the figures yourself.
According to Geostat's preliminary figures, real GDP grew by 7.5% in 2025. In June 2026 the IMF projected growth of 6.5% for the current year, assuming the war in the Middle East is resolved soon. That is the IMF's projection, not our own estimate.
Inflation was 5.6% year on year in September 2026, against the National Bank's 3% target. Geostat publishes the latest figure each month on geostat.ge; the October figure was published on 3 November 2026.
S&P and Fitch rate Georgia BB, Moody's Ba2. All three grades are below investment grade. S&P set a positive outlook in August 2026, Moody's a stable one in July 2026 and Fitch a stable one in November 2025. The National Bank reports new decisions on nbg.gov.ge.
Growth and inflation at Geostat (geostat.ge), the policy rate and money transfers at the National Bank (nbg.gov.ge), country reports at the IMF (imf.org) and ratings in the agencies' own announcements.
Last reviewed on 3 November 2026. Sources: Geostat (geostat.ge): Gross Domestic Product of Georgia in 2025 (preliminary), published 20 March 2026; Inflation Rate in Georgia, August 2026 (3 September 2026) and September 2026 (2 October 2026); geostat.ge home page showing September 2026 inflation and 2025 GDP growth (preliminary), National Bank of Georgia (nbg.gov.ge): Monetary Policy Committee decisions from 6 May 2026 to 21 October 2026; 3% inflation target, IMF (imf.org): press release 26/197 of 10 June 2026 on the Article IV consultation, National Bank of Georgia (nbg.gov.ge): Main Macroeconomic Indicators and International Rating; announcements on S&P Global Ratings (8 August 2026), Moody's (1 July 2026) and Fitch Ratings (22 November 2025). This guide is not legal or tax advice.
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