Finance Minister: Georgia’s economy to grow over 4% in 2017

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;

1. January – 5.2 percent
2. February – 4.4 percent
3. March – 5.3 percent
4. April – 2.1 percent
5. 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).