PM says “record-high” figure of employment, economic growth result of “correct policy”
Georgian Prime Minister Irakli Garibashvili on Monday said the Government’s “correct policy” had led to the “record-high” figure of 1.366 million employed individuals across the country in the third quarter of 2023. Photo: PM's press office
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Georgian Prime Minister Irakli Garibashvili on Monday said the Government’s “correct policy” had led to the “record-high” figure of 1.366 million employed individuals across the country in the third quarter of 2023.
Speaking at the weekly Government meeting, Garibashvili said the “positive” growth trend of the domestic economy had continued this year with the figures showing seven percent growth in the second quarter.
This was ensured by the correct policy taken by our Government over the recent years, the steps we took, [and] the peace policy we have - otherwise, if the previous Government was in charge, there would be no peace, no economic growth, nothing. They would destroy the country for the second time”, Garibashvili alleged.
The PM said the nominal gross domestic product forecast for 2024 was ₾86 billion ($31.74bln) under the conditions of conservative planning, while in 2012 the figure had stood at about ₾27 billion ($9.96bln).
In the last 11 to 12 years, the national economy of the country has tripled”, he said, adding the state budget for 2024 was being “conservatively planned” based on five percent growth.
The budget deficit has been greatly reduced [to] 2.5 percent [...] and we want to maintain this decreasing trend in the following years as well. The Government debt will be 38 percent of the GDP, which is also very low, and it can be said that in the last three years we have managed to significantly reduce the [number] and there will be a tendency to reduce it in the coming years as well”, he said.
Garibashvili added GDP per capita was projected to reach $8,500 in 2024 and $11,000 by 2027 within a ₾108 billion ($39.86bln) economy, and noted the 2024 budget would stand at ₾28.760 billion ($10.61bln).
Georgian Prime Minister Irakli Garibashvili on Wednesday highlighted the Government’s “pragmatic” foreign and economic policies, which contributed to securing an uninterrupted peace and stability and ensuring strong economic growth in the country amid the “complex” global security challenges.
Georgian Prime Minister Irakli Garibashvili on Tuesday highlighted Georgia as a “global hub for business and finance” and one of the world’s “fastest-growing” economies while addressing the United Nations General Assembly’s Sustainable Development Goals Summit in New York.
Georgian economy grew 7.5 percent year-on-year in the second quarter of 2023 while the nominal gross domestic product amounted to ₾19.28 billion ($7.35bln), the National Statistics Office said on Monday.
Georgian Prime Minister Irakli Garibashvili on Friday said the Government had raised its growth forecast for 2023 from the earlier five to 6.5 percent and was adjusting the state budget with a ₾500 million ($190mln) increase based on the increased growth rate.
The Georgian economy grew 6.9 percent year-on-year between January-October and by 6.2 percent in October alone, the National Statistics Office said on Thursday.
The weekly meeting of the Government of Georgia on Monday discussed 11 topics, the Administration of the Government said.
The Government of Georgia on Monday approved the 2024-2027 Communication Strategy for developing a unified vision of a “proactive, coherent and coordinated” communication between the Government and the public.
Unemployment rate in Georgia decreased by 0.7 percentage points in the fourth quarter of 2023 year-on-year and equalled 15.3 percent across the country, the National Statistics Office said on Monday.