PM Garibashvili: Georgia has unprecedented high economic growth across Europe

The estimated real gross domestic product (GDP) growth rate in September 2021 equaled 6.9% year-on-year and 11.3% in January-August of 2021 year-on-year. Photo: government of Georgia press office.

Agenda.ge, 29 Nov 2021 - 15:36, Tbilisi,Georgia

Georgian Prime Minister Irakli Garibashvili has stated that the economic growth in Georgia in October amounted to about 7%, while growth in the past 10 months totalled 10.5%, calling it ‘unique, unprecedentedly high growth across Europe.’

He also said several days ago that the gross domestic product in Georgia will reach a historic high in January 2022 amounting to 65 billion GEL (about $20 bln./€18 bln), noting that Georgia’s GDP per capita in January will be 5,500 USD.

The estimated real gross domestic product (GDP) growth rate in September 2021 equalled 6.9% year-on-year and 11.3% in January-August of 2021 year-on-year. 

The National Statistics Office of Georgia (Geostat) reported that the Georgian economy decreased by 6.1% in 2020 year-on-year.

The Europe and Central Asia Economic Update published by the World Bank says that the Georgian economy is unlikely to recover to pre-Covid levels until late 2022. 

The International Monetary Fund (IMF) projects the Georgian economy to grow 7.7% in 2021 and 5.8% in 2022.