Georgian PM, Economic Council members discuss positive trends in country's economy

Positive economic trends in Georgia were discussed on Wednesday in a meeting of the Government’s Economic Council led by Prime Minister Irakli Garibashvili.

The meeting reviewed a “record” increase of foreign investments in the country, with the volume of direct foreign investments made in Georgia in the second quarter of 2023 reaching $505.7 million, which is 29.9 percent higher than the adjusted data of the Q2 of 2022, the Government Administration said.

The members of the Council also discussed the growth trend of foreign trade indicators, noting that the trade turnover in this August amounted to $1,766.1 million, increasing by 16.8 percent and reaching $14,001.1 million between the period of January and August. 

It was also noted that the exports increased by 14.3 percent and reached $4,075.5 million between January and August, while the imports increased by 17,8 percent, reaching $9,925.7 million in the same period.

The current and planned large investment projects in transport and logistics, including the Anaklia port development, were also discussed at the meeting of the Economic Council. 

The ongoing works within the modernisation project of Georgian Railways and the process of grape harvest were also in the focus of the meeting.