State account deficit, unemployment, poverty hit “historic lows” in 2022 - PM
Georgian Prime Minister Irakli Garibashvili on Monday said the Georgian economy continued to grow this year, hitting 7.1 percent growth in the first two months of 2023. Photo: PM's press office
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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”.
Georgian Prime Minister Irakli Garibashvili on Monday said the Government had ensured a double-digit economic growth in 2021, in contrast to forecasts by “quite competent people” that said the country was headed for a “default” that year.
The Georgian economy grew 5.8 percent in February and 7.1 percent in the first two months of 2023, data published by the National Statistics Office of Georgia on Friday shows.
Georgian Finance Minister Lasha Khutsishvili on Thursday told the Parliament he was expecting maintenance of “positive dynamics” of economic growth in the country and even higher figures this year.
Georgian Economy Minister Levan Davitashvili on Monday said foreign direct investments in the country had exceeded $2 billion in 2022, setting a “historic high” mark.
The Georgian economy is expected to grow by 4.5 percent in 2023 before reaching a five percent growth rate in 2024, a new report by the Asian Development Bank said on Tuesday.
The Netherlands was Georgia's major foreign direct investor country in the first quarter of this year with $239.6 million, followed by Japan with $63.2 million and the United States with $54.7 million, the National Statistics Office of Georgia reported in its latest figures on Friday.
Georgian Prime Minister Irakli Garibashvili on Friday told the Parliament the country’s unemployment rate had decreased to 17.3 percent this year and marked a “historic law”, adding 70,000 jobs had been created in the first quarter of 2023.