Finance Minister: Georgia’s economy to grow over 4% in 2017
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Georgia’s economy will grow by four percent this year, believes the country’s Finance Minister Dimitry Kumsishvili.
At today’s Ambassadorial 2017 – an annual gathering of the heads of Georgian Diplomatic Missions abroad – Kumsishvili talked about Georgia’s economic developments within the framework of the Conference on Economic Diplomacy.
The Conference highlighted issues related to trade-economic relations with Georgia’s partner countries, attract more Foreign Direct Investments (FDIs), supporting Georgian export, diversifying export markets, integration with the world markets.
While discussing these issues, the Georgian Finance Minister shared his optimistic expectations about Georgia’s economic growth.
And the official figures show economy is growing steadily. So far Georgia is experiencing positive economic dynamics thanks to the increase in exports, hosting more tourists and receiving a larger amount of remittances.
Taking into account the six months of data, we expected more than four percent economic growth this year,” said Kumsishvili.
Georgia’s economy has grown in the following way this year;
- January – 5.2 percent
- February – 4.4 percent
- March – 5.3 percent
- April – 2.1 percent
- May - 5.3 percent
Meanwhile, in the first quarter of 2017 Georgia experienced 5.1 percent economic growth, shows the latest data from the National Statistics Office of Georgia (Geostat).
Georgia experienced 5.1 percent economic growth in the first quarter of 2017, show the latest data from the National Statistics Office of Georgia (Geostat).
Georgia’s economy is growing steadily, reaching five percent growth, show the latest data from the National Statistics Office of Georgia (Geostat).
Georgia’s economy is growing steadily and the country is experiencing positive economic dynamics thanks to the increase in exports, hosting more tourists and receiving a larger amount of remittances.
Georgia’s economy is growing steadily and the country is experiencing positive economic dynamics thanks to the increase in exports, hosting more tourists and receiving a larger amount of remittances.
Increasing the export opportunities of Georgia-made products and supporting exporter companies is the main goal of a new initiative of Georgia’s economic team.
The Asian Development Bank (ADB) is moving its forecast up and saying the Georgian economy will grow by 4.2 percent in 2017 and 4.5 percent in 2018.
The European Bank for Reconstruction and Development (EBRD) has revised its 2017 economic growth forecast for Georgia and said that the country’s economy in 2017 as well as in 2018 will experience a faster growth than previously expected.
The World Bank raised its economic growth forecasts for Georgia, announcing 4.2 percent economic growth in 2018, 4.7 percent in 2019 and 5 percent in 2020. With this forecast Georgia is one of the leading countries among its neighbours in terms of economic growth, shows the Global Economic Prospects report.