Gov't expects 2022 to close with double-digit economic growth

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.