FDI in Georgia stood at US$ 580.1mn in 2Q25
FDI in Georgia declined by 12.0% y/y to US$ 580.1mn in 2Q25, following a 25.0% y/y drop in 1Q25. The drop was driven by lower reinvestments and debt instruments, while equity inflows increased by 21.2% y/y.
The financial sector was the largest FDI recipient at US$ 327.2mn (-2.8% y/y), followed by real estate at US$ 66.4mn (+2.3% y/y), energy at US$ 54.4mn (+194.6% y/y), transport at US$ 41.8mn (+73.7% y/y) and manufacturing at US$ 41.6mn (-34.9% y/y).
The UK topped the list of investors with US$ 242.7mn (41.8% of total FDI), followed by Türkiye (US$ 54.0mn, 9.3% of total), Czech Republic (US$ 38.3mn, 6.6% of total) and UAE (US$ 37.1mn, 6.4% of total).
Overall, FDI amounted to US$ 763.8mn (-15.5% y/y) in 1H25, equivalent to 4.5% of GDP.
NBG kept its key rate unchanged at 8.0%
On 10 September 2025, the NBG kept the monetary policy rate unchanged at 8.0%, reflecting a cautious approach to domestic inflationary pressures and elevated global uncertainty. The NBG projects average annual inflation at 3.8% for 2025, with a gradual decline toward the 3.0% target over the medium term. The next monetary policy meeting is scheduled for 5 November 2025.
Tourism revenues estimated at US$ 600mn in Aug-25
Tourism revenues increased by 2.1% y/y to US$ 600mn in Aug-25, according to our estimates. Overall, in 8M25, tourism revenues came in at US$ 3.1bn (+3.3% y/y), by our estimates.
We forecast tourism revenues to reach US$ 4.5bn in 2025.
