Unemployment hits “historic low”, 70,000 jobs created this year - PM to Parliament
The PM claimed the absolute poverty rate had also fallen to a “historical minimum”. Photo: Government press office
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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.
Presenting his Government's annual report to lawmakers, the PM contrasted the number to the “almost 27 percent” unemployment in 2012, when the Georgian Dream Government took office, before hailing efforts of his office to encourage new jobs by creating a “favourable business environment”.
The head of the Government claimed the absolute poverty rate had also fallen to a “historical minimum” of 15.6 percent, contrasting the figure to 30 percent in 2012.
“The figures mean the poverty rate has almost halved over the past decade, and 535,000 people have been able to escape poverty”, Garibashvili said, adding 1,271,000 individuals were employed across the country based on latest data.
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.
Georgian Prime Minister Irakli Garibashvili on Monday highlighted his Government’s steps for “ensuring peace, stability and high economic growth in the country” on the backdrop of challenges caused by the Covid-19 pandemic and the war in Ukraine.
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.
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”.
Georgian Prime Minister Irakli Garibashvili on Friday said the “destructive war party” - a reference to some of the domestic political opposition and their alleged partners abroad - had experienced a “complete fiasco” in its plans to “open a second front” in Georgia amid the war in Ukraine, which he said had been “one of the main goals” of the forces.
Georgian Prime Minister Irakli Garibashvili on Friday highlighted the “growing trend” in the country’s foreign trade, “record increase” in exports in 2022, and rising trade turnover in his comments for presenting the annual report on the work of the Government at the Parliament.
Georgian Prime Minister Irakli Garibashvili on Friday said foreign direct investments in the country had hit a “record high” of $2 billion in his annual report on Government’s work to the Parliament.
Unemployment rate in Georgia decreased by 1.4 percent year-on-year in the second quarter of 2023 and equalled 16.7 percent across the country, data from the National Statistics Office of Georgia shows.
Georgian Deputy Economy Minister Vakhtang Tsintsadze on Friday said the country’s “high economic growth” had made a “positive impact” on the labour market by reducing unemployment to its “historic low” of 16.7 percent.
Georgian Deputy Economy Minister Vakhtang Tsintsadze on Monday said the number of employed individuals across the country had increased by 7,700 year-on-year and reached a “record-high” figure of 1.36 million in the third quarter of 2023.