2022 data shows 10.1% growth of Georgian economy
The Georgian economy grew by 11 percent in December and 10.1 percent over the past year, the latest data from the National Statistics Office of Georgia has shown. Photo: Nino Alavidze/Agenda.ge
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The Georgian economy grew by 11 percent in December and 10.1 percent over the past year, the latest data from the National Statistics Office of Georgia has shown.
The estimated real growth was observed in sectors including construction, manufacturing, transportation and storage.
It was also observed in financial and insurance activities, trade, hotels and restaurants, while decline was registered in real estate, professional, scientific and technical activities, electricity, gas, steam and air conditioning supply.
A recent United Nations forecast said the Georgian economy would grow 5.2 percent in 2023 and 4.6 percent in 2024.
The January report of the World Bank’s Global Economic Prospects said the Georgian economy’s 2022 growth had featured a "much stronger” domestic economic activity compared with expectations in the aftermath of Russia’s invasion of Ukraine.
However, the growth is expected to slow to four percent in 2023 and stabilise around five percent in 2024, the report also said.
The Georgian economy’s 2022 growth is projected to be at 10 percent in the final tallying of numbers for the past year, with a "much stronger” domestic economic activity observed compared with expectations in the aftermath of Russia’s invasion of Ukraine, the January report of the World Bank Global Economic Prospects has said.
Georgian Finance Minister Lasha Khutsishvili on Monday said the country’s economy had grown by 10 percent in the first 11 months of 2022, with the rate expected to be maintained in the final figures of the year.
The Georgian economy is forecast to grow 5.2 percent in 2023 and 4.6 percent in 2024, the World Economic Situation and Prospects report by the United Nations said on Thursday.
The Georgian economy grew by 10 percent in the first 10 months of 2022 with the real gross domestic product growth showing an 8.3 percent increase over the previous year, the latest data from the national statistics office shows.
Georgian Economy Minister Levan Davitashvili on Tuesday said the "positive trends" of the country's economic growth from 2022 were expected to be maintained this year due to its multifaceted form over the past 12 months.
Georgian Prime Minister Irakli Garibashvili and members of the Government's Economic Council met on Saturday to discuss the double-digit economic growth rate achieved over the past two years in Georgia - 10.5 percent in 2021 and 10.1 percent in 2022, as as result of the Government’s “proper policy”, the Government Administration said.
The Georgian Government will on Monday submit a 164-page annual report on its work to the country’s legislative body, with Prime Minister Irakli Garibashvili scheduled to present it to the Parliament on June 30, Parliamentary officials confirmed earlier today.