Georgian PM, heads of banks, business association discuss economy trends
The PM also learned about the economic situation and the forecasts of the country’s National Bank regarding the Georgian Lari exchange rate from its President Koba Gvenetadze. Photo: Government of Georgia.
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The trends and dynamics of the economic growth, exports and tourism in Georgia were at the top of the agenda of a meeting between Georgian Prime Minister Irakli Garibashvili and chairpersons of the Business Association and Georgian banks on Tuesday.
Garibashvili highlighted the “positive economic trends,” naming the country’s 18 percent growth in January and also pointing to data showing 47.6 percent increase in exports of locally produced goods, totalling $331.3 million, as well as rising trends in tourism.
The Government head pointed to importance of "maintaining and increasing" the growth in this direction, specifying the role of business in the process by expressing the Georgian Government’s “full support” for the sector and calling on them to “actively participate” in the implementation of projects and programmes announced by the state, “aiming at stimulating economic growth and creating new jobs in the country,” the Government Administration announced.
The PM also learned about the economic situation and the forecasts of the country’s National Bank regarding the Georgian Lari exchange rate from its President Koba Gvenetadze.
Georgia’s “unprecedented” economic growth this year should be maintained and increased, Prime Minister Irakli Garibashvili said at the Government meeting on Monday.
The estimated real Gross Domestic Product (GDP) of Georgia increased by 18 percent in January 2022 year-on-year, the latest data from the National Statistics Office of Georgia (Geostat) shows.
Georgian experts forecast the inflation rate in Georgia to begin to “decline significantly” from March to April this year, prime minister of the country said on Wednesday, adding a reduction in inflation had already been observed in the final months of 2021.
Georgia has exported locally produced goods worth $331.3 million in January 2022, which is 47.6 percent higher year-on-year, the preliminary data from the National Statistics Office of Georgia (Geostat) show.
The Georgian government has demonstrated a very high level of crisis management several times, Levan Davitashvili, the Minister of Economy and Sustainable Development, said on Tuesday.
There is no need for Georgian citizens to stock up on food products as supply lines are working, Levan Davitashvili, the Georgian Economy Minister, has told the public amid claims the country might be facing a shortage due to the war in Ukraine.
State-owned real estate will be handed to 98 individuals for the symbolic price of 1 GEL, in addition to registration of their ownership and repayment of loan interests from the state, the Government announced on Monday.
Construction and infrastructure projects, export potential, tourism, industrial and food supplies were the topics of discussion during a meeting of the Georgian Government’s Economic Council, led by Prime Minister Irakli Garibashvili, on Thursday.
Georgian prime minister Irakli Garibashvili on Tuesday said the public employment programme for the country’s socially vulnerable individuals, proposed by him late last year, had given jobs to 25,000 people since March.