Georgian PM highlights “resilience and strong performance” of Georgia’s economy despite ongoing global challenges
At the 51st International Conference of the Banking Association for Central and Eastern Europe, Georgian prime minister Irakli Kobakhidze on Friday highlighted the resilience and strong performance of Georgia’s economy despite ongoing global challenges.
In his address, Kobakhidze stated that Georgia has maintained stable economic development and delivered results that exceeded expectations, positioning the country as a standout example of resilience on the global stage, adding that the country recorded an average real GDP growth rate of 9.3% between 2021 and 2025.
The government head also pointed to strong international confidence in Georgia’s economic outlook, particularly evident during this year’s Eurobond issuance. He noted that global demand exceeded supply by five and a half times, underscoring investor trust in the country’s economic trajectory.
“Over the years, the International Banking Conference has established itself as the main platform for the banking sector across Central, Eastern and South-Eastern Europe, the Caucasus and Central Asia. It is an important platform for presenting both the Georgian banking sector and the broader regional financial landscape”, he said.
Kobakhidze emphasised that these discussions were particularly important for the banking sector, which played a central role in ensuring financial stability, supporting economic growth and responding effectively to periodically emerging risks and challenges.
“Despite global challenges, our economy continues to develop steadily and has strong indicators, which have exceeded expectations and thus distinguish us in the world for sustainability. In 2021-2025, Georgia showed an average growth of 9.3 percent in real gross domestic product (GDP)”, he noted.
“The strong confidence in Georgia's economic outlook was evident during this year's Eurobond issuance, where international demand exceeded supply by five and a half times. This highlights the strong confidence in Georgia's economic prospects”, the PM concluded.
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Gross external debt of Georgia amounts to USD 26.9 billion - NBG
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The gross external debt of Georgia amounted to 26.9 billion USD (72.4 billion GEL) as of 31st of December 2025. It stood at 70.4 percent of the annual 2025 GDP, the National Bank of Georgia (NBG) reported.
According to the NBG, during the fourth quarter of 2025, the gross external debt of Georgia decreased by 352.7 million USD. Out of that, due to transactions debt decreased by 440.1 million USD, and due to other changes by 14.6 million USD. At the same time, exchange rate changes led to an increase of 72.7 million USD and price changes by 29.4 million USD.
“Public sector external debt amounted to 11.7 billion USD (31.6 billion GEL) or 30.7 percent of GDP, out of which, debt of the general government amounted to 9.2 billion USD (24.8 billion GEL) or 24.1 percent of GDP. External liabilities of the National Bank of Georgia amounted to 780.9 million USD (2.1 billion GEL) or 2.0 percent of GDP, and the bonds and loans of public enterprises were correspondingly 473.1 million USD (1.3 billion GEL) or 1.2 percent of GDP and 1.3 billion USD (3.4 billion GEL) and 3.3 percent of GDP.
Banking sector external debt amounted to 9.5 billion USD (25.5 billion GEL) or 24.8 percent of GDP; Other sectors’ external debt stood at 5.0 billion USD (13.4 billion GEL) or 13.0 percent of GDP; While 2.4 billion USD (6.6 billion GEL) or 6.4 percent of GDP was the intercompany lending. 86.7 percent of the gross external debt of Georgia was denominated in a foreign currency.
The net external debt of Georgia amounted to 12.6 billion USD (34.0 billion GEL) or 33.1 percent of the 2025 annual GDP. Net public sector external debt was 5.6 billion USD (15.0 billion GEL) or 14.6 percent of GDP.
External liabilities of the National Bank of Georgia decreased by 38.6 million USD, out of that, transactions led to a decrease in external debt by 37.5 million USD and exchange rate changes led to a decrease by 1.0 million USD. By the end of 2025, the external debt of the National Bank of Georgia amounted to 780.9 million USD, of which 475.5 million USD are Special Drawing Rights (SDR), which have no maturity date, therefore, there is no obligation to repay them as long as Georgia is a member of the IMF,” the NBG said.
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