President Margvelashvili: Growing economy has many benefits

If Georgia’s economy grows by 6%, as the World Bank forecasts, the country’s problems would ease, believes President Giorgi Margvelashvili.

During his inaugural speech in Parliament today, Margvelashvili stressed 2013 had been "a difficult year” as the country experienced a transition period.

However during this time, Georgian businesses had been released from pressure and real protection of property rights had been launched.

"It is usual that in this situation businesses were a little bit careful and we faced delays in the foreign direct investment market in Georgia, which slows down economic development,”|/ Margvelashvili stated.

He underlined the Government’s economic team actively worked to overcome these problems.

"In a politically stable environment, we saw the recovery of our economy in the second half of the past year,” he added.

In his speech, Margvelashvili also highlighted the vigor economy in developed countries meant a greater share of small and medium sized (SME) businesses in the economy.

"Regrettably, the share of SME in the economy is still very low so it is essential to approve the laws and reforms that will increase competition in the market.”

He also referred to diversification of the export market, and said attracting investments as well as implementing new technologies would help promote the development of the Georgia’s economy.

Later, President looked to Twitter to inform the followers the priorities of his speech.

"Economically developed and stable Georgia is the guaranty of the peaceful and stable region,” read the tweet.