Finance Minister: Georgia to be a country with one of the fastest recovered economies in the post-pandemic period
Georgian Finance Minister Lasha Khutsishvili claims Georgia will be a country whose economy will recover one of the fastest in the post-pandemic period. Photo: Ministry of Finance.
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Georgian Finance Minister Lasha Khutsishvili claims Georgia will be a country whose economy will recover one of the fastest in the post-pandemic period.
There are many factors that actually give us the opportunity to say that the process of economic recovery this year will be fundamentally different", Khutsishvili said.
Last week he said that the Georgian economy is expected to grow 6.5% in 2021, and 6.9% in 2022.
He also said that in an optimistic scenario, economic growth in 2021 is projected at 10.2%.
This scenario envisages a faster recovery of tourism this year, specifically at the level of 40-45% of 2019. It also means dynamic economic growth in other sectors of the economy. We have clear signs of this in the April GDP growth data, where the economy grew by almost 45% and this growth was spread to virtually all sectors of the economy", Khutsishvili said.
According to the latest GDP data of April 2021 the estimated real gross domestic product growth rate in April equaled 44.8% year-on-year and 8.1% in January-April of 2021 year-on-year.
A year into the coronavirus pandemic Georgians remain concerned about the state of the economy and the impact of Covid-19, reads poll results released today by the National Democratic Institute (NDI or the Institute) and CRRC Georgia.
The Georgian economy is expected to grow 6.5% in 2021, according to Georgian Finance Minister Lasha Khutsishvili. He added that "the economy is forecast to grow 6.9% in 2022.” He also said that in an optimistic scenario, economic growth in 2021 is projected at 10.2%.
The estimated real gross domestic product (GDP) growth rate in April 2021 equaled 44.8% year-on-year and 8.1% in January-April of 2021 year-on-year, show preliminary data from the National Statistics Office of Georgia (Geostat).
Air pollution in Georgia contributed to more than 4,000 lives lost, while its economic costs were estimated at $560 million, or 3% of gross domestic product (GDP), reads the World Bank report 'Georgia: Towards Green and Resilient Growth, that estimates losses associated with pollution and degradation of agricultural and forest land and coastal zones.
The Georgian economy is projected to grow 6% in 2021, 5% in 2022 and again 5% in 2023, says the June edition of the World Bank’s report Global Economic Prospects 2021.
Georgian Prime Minister Irakli Garibashvili has stated that in a pessimistic scenario the Georgian economy is expected to grow 7% while in an optimistic scenario it will grow more than 10% this year. The World Bank published the report today, which reads that the Georgian economy is projected to grow 6% in 2021, 5% in 2022 and again 5% in 2023.
Georgian Finance Minister Lasha Khutsishvili has summed up the influence of the Covid-19 pandemic on the Georgian economy and the government's effort to help citizens as well as businesses to overcome the crisis within the 'Minister's Hour' format at the Parliament of Georgia today.
The estimated real gross domestic product (GDP) growth rate in May 2021 amounted to 25.8% year-on-year and 11.5% in January-May of 2021 year-on-year, show preliminary data from the National Statistics Office of Georgia (Geostat).
The International Monetary Fund (IMF) projects the Georgian economy to grow 7.7% in 2021, 'a significant upgrade from just a few months ago, which implies that output will exceed its 2019 level this year', reads a concluding statement of the IMF staff at the end of an official visit in Georgia.
The estimated real gross domestic product (GDP) growth rate in July 2021 amounted to 9.9% year-on-year and 12.2% in January-July of 2021 year-on-year, show preliminary data from the National Statistics Office of Georgia (Geostat). The International Monetary Fund (IMF) projects the Georgian economy to grow 7.7% in 2021, 'a significant upgrade from just a few months ago, which implies that output will exceed its 2019 level this year'.