Georgian PM highlights high economic growth, reduced prices among “positive” 2023 indicators

Georgian Prime Minister Irakli Garibashvili on Tuesday told members of his Government during their weekly meeting the seven percent economic growth rate, reduction in prices on products and increase in tourism and trade figures represented “positive” dynamics across the country.  

We are having quite a high, seven percent economic growth this year, and we also have quite positive and optimistic data for tourism”, he told the meeting.

[I]n the first quarter of 2023, more than 1.2 million international travellers visited Georgia, which is certainly a very positive indicator. If we compare it with the period of January-March last year, this is an increase of almost 110 percent”, Garibashvili said.

Speaking about the increased trade turnover, the PM said in the first quarter the value of exports had risen by 25 percent and equalled $1.46 billion, a “record high” for the quarter. 

Garibashvili also mentioned prices on fuel and food products - including bread - had “dropped significantly”. The Government head also thanked those who supported the policy for regulating the prices on the market, crediting them with “adequate steps” for ensuring the outcome.

“Our task is to keep inflation at the target of five percent this year and maintain high economic growth rate”, he added in the weekly meeting.