PM Garibashvili positively reviews the country’s development

Georgia’s Prime Minister Irakli Garibashvili said the country’s progress in recent months was "very promising”.

Figures released yesterday by the National Statistics Office of Georgia (Geostat) showed the country’s progress in the past 12 months, with year-on-year (y/y) data noting in February 2015 the country experienced a 4.9 percent growth in GDP (Gross Domestic Product).

The estimated real GDP average growth reached 2.7 percent for January-February 2015 y/y.

"Last year GDP grew by 4.8 percent. With this figure Georgia is the first country in the region. Georgia is ahead of such countries like Lithuania, Latvia, Croatia, Czech Republic, Poland, Slovenia," the PM said.

"Foreign factors and economic growth tendencies of our trade partner countries always have an impact on [Georgia’s] economic growth. And this is normal if [Georgia’s] economic growth rate is not less compared to trade partner countries’ economic growth rate,” Garibashvili said.

The Prime Minister also mentioned the investment growth in 2014, which hit record rate since to 2007. The number of investments grew by 39 percent and amounted to $270 million USD.

Garibashvili also talked about the progress made in Georgia’s agriculture sector.

"Agriculture production capacity consisted of 3 billion GEL in 2013 and was more than 35.9 percent compared to the past seven years’ average index. The share of agriculture in GDP was fixed for the first time in Georgia,” Garibashvili said.

The PM said "remarkable" positive trends were evident in the country's tourism sector, which attracted $3.1 billion USD in the past two years.