Economy Minister: gov’t demonstrated “high level” of crisis management
Davitashvili maintained all economic indicators in the country were “solid.” Photo: Economy Ministry/Facebook
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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.
In an interview with TV Imedi, Davitashvili highlighted the “double-digit economic growth”, which he said has been taking place under the leadership of Prime Minister Irakli Garibashvili.
Davitashvili maintained all economic indicators in the country were “solid,” and authorities expected challenges to be overcome and stability maintained.
When it comes to long-term predictions, the economy team is also prepared for that. We understand the economic problems created in the region could negatively influence our economy, but we will respond with compensating measures, and we are not alone in this. The international financial partners are with us,” he added.
The estimated real Gross Domestic Product (GDP) of Georgia increased by 18 percent in January 2022 year-on-year.
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.
The number of Russian citizens entering the territory of Georgia over the recent days is in the pre-pandemic range, Georgia’s Economy Minister Levan Davitashvili said on Monday.
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.
Macroeconomic parameters in Georgia are “very healthy and stable” and depreciation of the Georgian lari exchange rate is mainly caused by “emotional factors,” Georgian Economy Minister Levan Davitashvili said on Tuesday.
About 20,000 Russian citizens have entered Georgia since February 24, compared to 40,000 in the same period in 2019, Vakhtang Gomelauri, the Interior Minister of Georgia, said on Wednesday in response to rumours about “unprecedented level” influx of Russian citizens into Georgia over the recent days on the backdrop of Russia’s invasion of Ukraine.
Commercial banks and card processing systems operating in Georgia are not in cooperation with the Russian payment system Mir, the National Bank of Georgia said on Wednesday.
Georgian Airways on Wednesday denied selling tickets through Russian payment system Mir, following a controversy linking the airline to the platform on the backdrop of international sanctions on Russia for its invasion of Ukraine last month.
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.
A US-Georgia free trade agreement (FTA) would have a net positive effect for both countries, Georgian Foreign Minister David Zalkaliani told Brock Bierman, an opinion contributor for the American newspaper The Hill.
Problems related to the supply of wheat and flour in Georgia are neither observed nor expected, Economy Minister Levan Davitashvili said on Wednesday, adding it was foreseeable the export tax would be removed and the country would be able to buy wheat “on better terms and cheaper.”
The National Bank of Georgia (NBG) offered 50 million USD at the foreign exchange auction on Wednesday of which 39.5 million USD was sold, the bank announced yesterday. In the first foreign exchange intervention this year, the NBG made the sale with an average weighted rate of 3.3947.
The current foreign exchange rates show concerns about the Georgian lari depreciation are “groundless,” Georgian Finance Minister Lasha Khutsishvili said on Thursday.
Khutsishvili asserted all sources of currency inflow in the country, including export and tourism, were “functional” and “growing.”
A digital transformation council will be established in Georgia, with the involvement of both the Government and private sector, in order to “fully transform” the economy and develop the field of information technology (IT), Levan Davitashvili, the Georgian Economy Minister, announced on Friday.
The Georgian Economy Ministry expects a potential decrease in fuel prices through importation of the product purchased at cheaper rates, Minister Levan Davitashvili said on Monday.
Georgia has wheat resources enough for more than a month and more can be imported if necessary for food security, Georgian Finance Minister Lasha Khutsishvili said earlier today.
The Georgian Government is “working intensively” with companies from Britain, Germany and other countries based in Ukraine and Russia to relocate their enterprises to Georgia amid the ongoing war in Ukraine, Economy Minister Levan Davitashvili announced on Monday.
Electronic commerce and online retailing company Rakuten will open a Tbilisi-based office for mobile application development of its Viber messaging product, the Georgian Economy Ministry announced on Monday.
International companies leaving the Russian and Belarusian markets due to the war in Ukraine is an “opportunity” for Georgia to attract new businesses and new investments, and create new jobs in the country, Irakli Nadareishvili, the Deputy Economy Minister, said on Thursday.
The judiciary in Georgia is independent of political processes and court decisions bear no political impact, Levan Davitashvili, the Georgian Economy Minister and Vice Prime Minister, said on Monday following claims by supporters of Nika Gvaramia, the former Rustavi 2 channel Director, of persecution following his sentencing by Tbilisi City Court for abuse of powers.