Georgian Economy Minister Natia Turnava says that the increased rate of foreign direct investment in the second quarter of 2020 proves that despite the pandemic the Georgian economy is gradually recovering.
Foreign direct investments (FDI) in Georgia amounted to $237.8 million in the second quarter of 2020, which is a 0.5 per cent increase compared to the same period of 2019, says the National Statistics Office of Georgia (Geostat).
Turnava said that the positive dynamics are taking place against the background of the global pandemic and at a time when international experts predict a 40 per cent drop in investment globally.
The prime minister's advisor for economics Beka Liluashvili says that the increase in foreign direct investments indicates that investors trust the economic policy of Georgia.
In addition, while the economy declined by 7.7 per cent in June we saw that in July the economy shrank 5.5 per cent, meaning that the economy has already moved to a recovery phase after stabilisation. Other economic indicators, such as remittances, fiscal parameters, spending indicators, have improved and economic activity has recovered in the manufacturing, mining and manufacturing industries, which are real sectors of the economy and critical to employment", he said.
Liluashvili added that 'we expect the Georgian economy to recover fast and next year we will have quite good indicators of economic growth'.