The gross domestic product of Georgia will reach ₾80 billion ($30.08 bln) next year, Prime Minister Irakli Garibashvili said at the Government meeting on Monday, adding the figure had increased by almost ₾30 billion ($11.28 bln) over in the last two to three years.
Garibashvili said his Government was continuing its support for small and medium-sized businesses, tourism, manufacturing, infrastructure and other sectors.
Overall, we expect serious progress [in 2023]. We must maintain high economic growth rates. Last year we achieved double-digit economic growth. This year we have [the same result]. This has given us several billion lari of additional income [which we used to] increase salaries, pensions [...] [and finance] projects”, he said, adding “[t]his pace needs to be maintained [and] we need more active work from the new year".
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 in the latest data from the National Statistics Office.
Areas including construction, transport and warehousing, financial and insurance activities and mining industry made a “significant contribution” to the growth, the body said, adding a downward trend was observed in the processing industry and activities related to real estate.