Economy Minister highlights 737,000 jobs in business sector
Davitashvili also said the country’s economy had expanded by 5.5 percent in July and by 7.2 percent so far in 2023. Photo: Ministry of Economy
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Georgian Economy Minister Levan Davitashvili on Monday highlighted the “historically maximum number” of 737,000 people he said were employed in the domestic business sector.
In his comments after the weekly Government meeting, Davitashvili also said the average monthly salary of employees had increased in the second quarter of the current year by nearly 18 percent and amounted to ₾1,914 ($726).
He also said the country’s economy had expanded by 5.5 percent in July and by 7.2 percent so far in 2023.
The Minister also said the country’s exports were being negatively impacted by the “relatively low prices” for essential minerals this year, which he named as the “major reason” for the country's economy not growing even more.
The official noted the Ministry was anticipating an improvement in related exports in the fourth quarter of the year and intended to maintain a “higher level of growth than anticipated”.
Georgian Prime Minister Irakli Garibashvili on Monday said the country’s economic growth had hit 7.2 percent in the first six months of this year while inflation had decreased to 0.9 percent in August, before pledging support for farmers in the country’s east by ensuring subsidies for damaged grapes following hail, strong winds and heavy rains last week.
Georgian Deputy Economy Minister Vakhtan Tsintsadze on Thursday said the Government’s “reasonable” macroeconomic policy was ensuring Georgia's resilience to external shocks and “positive trends” of economic growth would be maintained in the coming months.
The Georgian economy grew 5.5 percent in July year-on-year and 7.2 percent in the first seven months of 2023, the National Statistics Office of Georgia said on Friday. Last month’s growth was mainly driven by estimated real growth in financial and insurance activities, construction, trade, professional, and scientific and technical sectors, the Office said.
The Georgian economy grew 7.2 percent in the first quarter of 2023 and 7.3 percent in March, the latest data for the gross domestic product by the National Statistics Office of Georgia on Friday shows.