Gov't expects 2022 to close with double-digit economic growth
The government administration cited Garibashvili as saying the current 10.2 percent growth was “unprecedented in Europe”, in his summary of figures of the past nine months at the weekly government meeting. Photo: PM's press office
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Georgian prime minister Irakli Garibashvili on Monday said the domestic high economic growth rate was expected to be maintained with the year closing with “double-digit figures”.
The government administration cited Garibashvili as saying the current 10.2 percent growth was “unprecedented in Europe”, in his summary of figures of the past nine months at the weekly government meeting.
We are maintaining high economic growth rates amid the current geopolitical challenges and tension. The Georgian economy grew 10.2 percent in the first nine months [of 2022] - this is unprecedented in the whole of Europe", the PM said.
The government head also added Georgian exports had increased by 37.4 percent in the reporting period, while income from exports had reached $4 billion.
Garibashvili also noted the domestic tourist sector had been recovering "at a fast pace", noting the domestic industry had recovered by 97.5 percent compared to the pre-pandemic 2019 with revenues reaching $2.5 billion.
Georgian prime minister Irakli Garibashvili and members of the government's economic council on Saturday discussed the “positive” economic trends in Georgia and the positive impact of double-digit economic growth on the country’s economic development, the government administration said.
The economic trends of Georgia, current and future reforms, as well as macroeconomic indicators and forecasts, were discussed on Friday by the Georgian economy minister Levan Davitashvili and James John, the mission chief of the International Monetary Fund.
Georgian deputy economy minister Genadi Arveladze on Tuesday told the Eastern Partnership Forum in Prague, Czechia the “correct policy” of the Georgian government to diversify its export markets had reduced the country’s reliance on the Russian market.
Georgian prime minister Irakli Garibashvili on Friday said the country’s "unprecedented" double-digit economic growth of 10.5 percent in August and 10.3 percent over the first eight months of 2022 was the result of the government's "reasonable policy”.
The Georgian economy grew by 8.8 percent in September and by 10.2 percent in the first nine months of 2022 year-on-year, the latest data from the national statistics office of Georgia show.
Georgian economy minister Levan Davitashvili on Monday said the forecast of the International Monetary Fund projected the Georgian economy’s 2022 growth to be 10.5 percent, and highlighted the country exhibited “one of the highest” growth rates in the region.
Georgian prime minister Irakli Garibashvili on Monday highlighted the country’s “double-digit” economic growth for two consecutive years, stressing the outcome was the result of the “sound economic policy” of his government.
The Georgian economy grew by 10 percent in the first 10 months of 2022 with the real gross domestic product growth showing an 8.3 percent increase over the previous year, the latest data from the national statistics office shows.