Unemployment in our country is at a historic low — by the end of last year, unemployment stood at 13.9%. This is the lowest level since the restoration of independence, said Georgian Prime Minister Irakli Kobakhidze during his annual address to Parliament.

The Prime Minister noted that more than 185,000 new jobs were created between 2022 and 2024.

“There is often discussion about how much our country’s economic growth affects the living standards of the population, and in this regard, I want to present the 2024 data. Unemployment in our country is at a historic low. By the end of last year, unemployment was 13.9%. This is the lowest level since independence was restored. I would also like to remind you what we inherited in 2012 — at that time, unemployment was 26.7%. So, during this period, we managed to halve unemployment in our country. Of course, we need even faster economic development in order to reduce this figure further. Just in the past three years — 2022 to 2024 — more than 185,000 new jobs were created. This is an impressive figure for three years. In 2024 alone, during the reporting period, employment increased by 68,000 people, and the total number of employed persons exceeded 1,400,000 for the first time since independence was restored, which is a historic maximum. This means that economic growth directly affects the living standards of the population and employment, which is particularly important for us. Economic growth alone has no value if it is not felt by every citizen. The employment figures we have show that this growth is also reflected among a wide range of the population,” the Prime Minister said.

Furthermore, Kobakhidze noted that Georgia ranks first internationally in budget transparency indices.

He said this is an important factor that helps maintain sound fiscal data.

“The high pace of economic growth and good economic indicators allowed us to maintain a high level of fiscal consolidation, which is reflected in specific figures. From 2024, average annual inflation was 1.1%, the budget deficit was 1.9%, which is within the established limit, the current account deficit was 4.4%, and government debt was 36.1% — all these figures are within the set limits. In 2020, our debt exceeded 60%, and over these four years, we managed to reduce this figure to 36%, which is naturally one of the most important achievements of our government.

Georgia ranks first internationally in budget transparency indices — this is also an important factor that supports maintaining sound fiscal data. It should be emphasized that we maintain a stable lari exchange rate; there were even downward trends recently, and moreover, the National Bank managed to replenish reserves, increasing the foreign currency reserves of the National Bank by several hundred million.

According to the methodology developed for EU candidate countries, we have prepared the ‘Economic Reform Program for 2025-27.’ Of course, the implementation of this program and all the plans set by the Georgian government will be ensured,” said the Prime Minister.