In brief

The ruling Georgian Dream-Democratic Georgia (GD-DG) won the latest parliamentary election and maintains its majority in parliament. However, the party's popularity has plummeted, and large-scale protests are frequent. Candidate status for EU membership was granted in December 2023, but accession is conditional on reforms. The prime minister, Irakli Garibashvili, resigned in January 2024—one month after the billionaire and former prime minister Bidzina Ivanishvili ,who founded the GD-DG party, announced his return to politics. Georgia will hold a parliamentary election in late 2024. The economy has emerged as an unlikely beneficiary from the war in Ukraine, and real GDP growth will continue to be supported by large inflows of Russian capital. Russian companies and workers have relocated to Georgia to avoid sanctions and the more repressive political situation at home. Georgia is set to establish itself as an important transit hub for Asia-Europe trade over the medium term, which will boost investment and services demand. 

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