PM optimistic about Georgia’s economic growth in 2018

Georgia’s Prime Minister Giorgi Kvirikashvili is optimistic about the country’s economic performance this year and predicts "very good indicators” by the end of 2018.

This is very important for investors to implement new plans and new investments”, said Kvirikashvili at today’s government meeting, where he discussed recent economic growth indicators.

He said that real economic growth in 2017 hit five percent, which was a result of the "correct and consistent” economic policy of the Government of Georgia.

This year, an already high rate of economic growth was revealed during the two months of 2018 - 4.9 percent during January-February and 5.5 percent in February”, said Kvirikashvili.

In February of 2018, the positive dynamics were significantly conditioned by improved foreign trade. In particular, in February of 2018, export increased by 25 percent and imports by 8.7 percent”, he continued.

The PM also said that growth trends have been observed in tourism revenues.

As for other factors contributing to growth, net cash transfers have increased by 20.6 percent. It is also important that the current account deficit in 2017 reached one of the lowest in recent years, it has been decreased to 8.7 percent from the previous 13 percent, which means a reduction by $531 million. This is very important for the stability of the exchange rate”, Kvirikashvili said.

Georgia’s Economy Minister Dimitry Kumsishvili is also optimistic about the country’s economic growth in coming years. Earlier he stated that Georgia will have one of the highest economic growth rates in the region in 2018-2022.