State account deficit, unemployment, poverty hit “historic lows” in 2022 - PM

Georgian Prime Minister Irakli Garibashvili on Monday said the country’s account deficit between imports and exports, unemployment and poverty had all hit “historic lows” in the past year while the domestic economy was observed at an “all-time high” and GDP per capita at a “historic maximum”.

In comments on economic gains in 2022, Garibashvili said the account deficit had been recorded at the “historic low” of 4.1 percent, improving by almost 6.3 percentage points in connection to the gross domestic product.

He also said the Georgian economy continued to grow this year, hitting 7.1 percent growth in the first two months of 2023. 

The economy grew by over eight percent in January and 5.8 percent in February, he said, calling it a “very serious achievement” considering international challenges.

Construction, finances, trade, transport, tourism - all these directions show high activity”, he said in the comments.

The Government head also said foreign direct investments in the country had exceeded $2 billion in 2022, setting a “historic high” mark, and added large projects including the Anaklia deep sea port, were set to launch and “boost economic growth”.

He listed projects for airports, hydropower plants and road infrastructure among projects expected to launch “over the next year and following years”.