Vakhtang Tsintsadze, the Georgian Deputy Economy Minister, on Wednesday cited the International Monetary Fund on its projection of 5 percent average economic growth for Georgia between 2023-2028, and said the Fund’s figures put the country as a “leader” both regionally and among European states.
The Minister made the comments on estimates found in this month's World Economic review of the IMF, released on Tuesday, and said the data showed the gross domestic product per capita in Georgia was expected to equal $7,600 in 2023 and $11,300 by 2028.
He also added the Government had set the aim of boosting economic growth beyond international financial organisations’ estimations as its “top priority”, and said it was aiming to achieve the result by accelerating infrastructure projects and putting “structural economic projects” into action.
The improvement of the business and investment climate in Georgia is the Government's top objective, enabling the state to draw more investments and stimulate economic activity, which directly translates into more employment, technology, innovations and knowledge transfer in the economy, directly influencing the population’s well-being”, the Deputy Minister said.
Georgia's per capita GDP, based on purchasing power, was 34.5 percent of the European Union rate in 2021, with the figure rising to 37.1 percent last year and expected to reach 46 percent by 2028.