Georgia’s GDP grows 3% in July 2015

The Study offered 43 specific recommendations to how to develop Georgia's capital market. Photo by N. Alavidze/, 31 Aug 2015 - 14:00, Tbilisi,Georgia

The country’s Gross Domestic Product (GDP) experienced an average real growth of 3 percent year-on-year (y/y) in July 2015, says the country’s National Statistics Office.

Preliminary data from Geostat revealed the country enjoyed 2 percent growth in GDP y/y in Q2 2015, while the estimated real GDP growth for the first seven months of 2015 reached 2.6 percent y/y.

Head of the Government of Georgia, Prime Minister Irakli Garibashvili encouraged the business sector to work together with the Government and support local production in order to enjoy a better economy and a stronger national currency.

"Doing business is absolutely free today; we have free media, court and all conditions created for Georgian entrepreneurs to run their business without any obstacles,” he said.

"Our goal is to produce Georgian products and compete with imported and low quality products. The Government is ready to support the business society who needs more encouragement,” Garibashvili said.