Standard & Poor's Global Ratings has increased the economic growth forecast for Georgia from five to eight percent, revised its outlook from negative to stable and affirmed the country’s long- and short-term foreign and local currency sovereign credit ratings at 'BB/B', Prime Minister Irakli Garibashvili announced on Monday.
Garibashvili said at today's Government meeting the country had experienced a “double-digit economic growth” over the past seven months, which he called "unprecedented amid the challenges in the world” and a result of the Government's "reasonable and correct policy".
If we had taken other, incomprehensible, anti-state, treasonous positions, there would be great trouble in the country today. We understand this very well", Garibashvili said in reference to policy positions raised by the domestic opposition on a range of matters on the backdrop of the ongoing conflict in Ukraine.
The Georgian economy grew by 7.2 percent in June and by 10.5 percent in the first six months of 2022 year-on-year according to the latest data from the National Statistics Office of Georgia.