PM Garibashvili: we revived and diversified economy in unprecedented time frame
Garibashvili stated that in Georgia there are a ‘lot of interesting areas that should be of interest to investors,’ noting that common interest should be the attraction of investments and intensification of the work in this direction. Photo: Government of Georgia press office.
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Georgian Prime Minister Irakli Garibashvili has stated that the government was able to ‘recover, stimulate and diversify’ the country’s economy' in an unprecedented time frame,’ noting that Georgia has double-digit economic growth.
This year will end with double-digit economic growth, which is unprecedented not only in the region, but also in Europe after Ireland, and this is very important,” said Garibashvili.
He emphasised that the Georgian government’s main task is the growth and development of the economy, adding that this progress should ‘affect on each of our citizens.’
The main challenge is poverty, unemployment and in the coming weeks we will present a very important new vision and this will be my main dream, goal and idea as well,” he added.
The Georgian economy has increased by 9.4% in the third quarter of this year, the National Statistics Office of Georgia reported, while the Georgian parliament approved the updated state budget 2022 for Georgia on December 17, planned with an economic growth forecast of 6%.
Garibashvili also discussed the government’s plan to transform Georgia into a regional financial hub with the involvement of the global financial giant Rothschild & Co.
[Rothschild & Co] is the second largest financial group in the world and the first in Europe, one of its initiatives is Georgia’s gradual transformation into Eastern Luxembourg. Luxemburg of the East - this was one of their ideas and suggestions,” Garibashvili stated.
He stated that in Georgia there are a ‘lot of interesting areas that should be of interest to investors,’ noting that common interest should be the attraction of investments and intensification of the work in this direction.
An agreement between Rothschild & Co Managing Partner Arielle Malard de Rothschild and the Georgian government was signed on December 16 in Brussels.
Rothschild & Co is one of the world’s largest independent financial advisory groups with 200-year history, which provides M & A, strategy and financing advice, as well as investment and wealth management solutions to large institutions, individuals and governments worldwide.
It has a global network of 3,800 colleagues in more than 50 countries.
Nominal Gross Domestic Product in Georgia equalled 15.99 billion GEL in the third quarter of 2021, and real GDP grew by 9.1%, while the GDP deflator (inflation measure) increased by 9.4% in the reporting period, preliminary data from the National Statistics Office of Georgia (Geostat) show.
The Georgian parliament has approved the updated state budget 2022 for Georgia, planned with an economic growth forecast of 6%. The budget amounts to 19.1 billion GEL. The document was approved by 78 votes in favour and one vote against earlier today.
Rothschild & Co, a global financial giant, will write a strategy for Georgia on how to transform itself into a regional financial hub, the government of Georgia says. An agreement between Rothschild & Co Managing Partner Arielle Malard de Rothschild and the government of Georgia was signed earlier today in Brussels.
Georgian Prime Minister Irakli Garibashvili has stated earlier today that gross domestic product in Georgia will reach a historic high in January 2022 amounting to 65 billion GEL (about $20 bln./€18 bln).
The largest share of annual gross domestic product (GDP) of Georgia by region is held by the capital city of Tbilisi with 50.5%, followed by the regions of Adjara (8.9%) and Imereti (8.4%), the National Statistics Office of Georgia (Geostat) reports.
The Tbilisi City Assembly has approved the Tbilisi municipal budget for 2022, which has increased by 255.115 million GEL and totals 1.305 billion GEL (about $423.9 mln/€374.5 mln). The financial document was adopted yesterday with 35 votes in favour and five against.
Georgian PM Irakli Garibashvili spoke at length about his cabinet’s plan to launch new social programmes to address unemployment and the cost of medications in the country during an interview on TV channel Imedi.
Georgian Prime Minister Irakli Garibashvili has congratulated the Georgian population on New Year’s Eve wishing for the 2022 year to be a ‘year of progress, success, unity, prosperity and development’ for Georgia and its people.
Georgian Prime Minister Irakli Garibashvili stated earlier today that the Georgian government has ‘significantly improved key fiscal parameters’ due to rapid economic recovery, adding that the Georgian government will make a decision this week which will ‘significantly reduce the cost of medicines.'
Georgian Prime Minister Irakli Garibashvili has stated that 2021 was a challenging but successful year, noting that the country has concluded the year with double-digit economic growth, more than five million vaccine doses imported, and ‘fair, competitive and free’ municipal elections held in October.
The estimated real Gross Domestic Product (GDP) increased by 12% in November 2021 year-on-year, and by 10.7% in January-November of this year, the latest data from the National Statistics Office of Georgia (Geostat) show.
The strategy of developing Georgia into a regional multifunctional hub was discussed in a meeting between Prime Minister Irakli Garibashvili and Ariel Mallard de Rothschild, the Managing Director of Rothschild & Co. on Thursday.