The International Monetary Fund has published long-term forecasts of the world economy for the period up to 2030 (including 2029).

“According to the IMF’s estimates, this year (in 2024) Georgia will take the 2nd place in the world with 5-year real economic growth per capita and will maintain such leadership for 6 consecutive years, respectively 6-year, 7-year, 8-year, 9- and 10-year According to annual long-term growth rates, in 2024-2029 compared to the pre-pandemic period (2019).

It should be noted that this 10-year forecast result of Georgia was compared to 2019, i.e. the pre-pandemic period, thus once again finally disproving the unfounded narrative that the outstanding indicators of high economic growth in the current years were caused by the effect of the strong economic downturn in 2020, and as if compared to the pre-pandemic period, Georgia’s long-term economic growth It did not look like a good prospect.

According to the forecasts: 1. According to the 10-year rate of growth of real GDP per capita, in 2029 it will occupy the top three places in the world, it is in the second place in the world, and it is the absolute leader of growth in the Eastern Hemisphere of the world (Europe, Asia, Africa, Australia and Oceania). The Cooperative Republic of Guyana will have the highest per capita economic growth during this period. In second place is Georgia, whose rate will increase by 71% in 2029 compared to 2019.

In 2024, per capita, the real economy of Georgia will grow by 7.5% annually, thus taking the undisputed lead among the states of Europe and Asia and taking the first place. It is worth noting that compared to 2012, that is, with a 12-year growth rate, Georgia ranks sixth in the world"s best seven, and is in the best three on the Eurasian continent. During this period, Georgia’s real economy per capita grew by 83%.

According to purchasing power parity per capita (GDP per capita PPP), according to the ten-year forecast growth rate of the nominal economy in 2029, Georgia is in the top three in the world, in second place in the world, and is the absolute leader in growth in the Eastern Hemisphere (Europe, Asia, Africa, Australia and Oceania). According to the IMF, in 2023 the per capita purchasing power of Georgia"s economy increased by 9.9% and exceeded 24,849 dollars. In 2024, the purchasing power of the economy per capita increases by 10% and becomes more than 27,363 dollars, and by 2029 it will exceed 38,744 international dollars.

It is worth noting that compared to 2012, that is, with a 12-year growth rate, Georgia’s purchasing power per capita economy is in the 4th place in the world"s top five in 2024, it is the undisputed leader in Europe and among the top three in Eurasia. During this period, the economy of Georgia grows by 164% per person according to purchasing power parity.

Georgia’s gross domestic product in US dollars per capita will exceed 12,734 US dollars in 2029, it will triple compared to 2020, and it will grow more than two and a half times compared to 2021. According to the fund"s forecast, the nominal economy of Georgia per capita will grow by 10.4% in USD over the 10-year period in 2019-2029. Accordingly, we can say that if this growth rate is recorded in 2030, Georgia"s GDP per capita will exceed 14,050 USD in 2030, thus it will most likely become a country with a high-income status according to the World Bank’s gradation.

According to the fund"s estimate, the economy of Georgia according to the purchasing power parity (GDP PPP, current prices) will become a 12-digit value in 2024, will exceed 102 billion 245 million dollars and for the first time in history will overtake Luxembourg, whose economy this year will be equal to 101 billion 876 million dollars. In 2024, Georgia will have a larger economy in terms of purchasing power parity than 6 EU member states - Luxembourg, Latvia, Estonia, Cyprus, Malta and Iceland. By 2029, the gross domestic product of Georgia will exceed 144 billion international dollars according to purchasing power parity, it will increase by 41% compared to 2024 (!), and compared to 2019, i.e. by 10-year calculation, it will increase by 131%", the information says.