Georgia’s 2023 budget planned with 5% economic growth forecast - PM

Georgia’s 2023 budget has been planned with a five percent economic growth forecast, Georgian prime minister Irakli Garibashvili said at today's government meeting.

The government administration cited the government head as saying next year’s budget would be “quite conservative” in its planning while the economy “continued fiscal consolidation”.

Within the five percent growth, gross domestic product may reach ₾80 billion ($28.27bln). In this situation, the gross domestic product per capita would be almost $7,500 compared to $4,800", Garibashvili said in reference to the growth in the figure over the recent years.

The PM added that GDP in 2020 had amounted to ₾50 billion ($17.67bln), while last year it had reached ₾60 billion ($21.20bln).

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"This means that we have increased the gross domestic product by ₾30 billion ($10.60bln) within two to three years. This is approximately a $10 billion increase in the total economy", Garibashvili said.