Georgia maintaining economic stability despite “grave regional challenges, decline in global prospects” - PM
Georgian Prime Minister Irakli Garibashvili on Monday addressed the World Government Summit in Dubai. Photo: Government press office
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Georgian Prime Minister Irakli Garibashvili on Monday told the World Government Summit in Dubai his Government had managed to maintain the country’s economic stability despite the “grave geopolitical situation” and challenges in the wider region, as well as “declining global economic prospects” in the aftermath of the coronavirus pandemic and the ongoing Russia-Ukraine conflict.
Extending his greetings to Sheikh Mohamed bin Zayed Al Nahyan, the President of the United Arab Emirates, and Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and the Prime Minister of the UAE and the Ruler of Dubai, the PM stressed his Government had a vision for a “strong Georgia committed to a free market economy and democratic institutions”.
He said the vision had been reflected in his office’s “multidimensional approach that is ensuring overall stability, sustainability and predictability for the Georgian people”, and added his team had been “developing effective and efficient policies and are solidifying our vision through robust actions” and had initiated “multi-stakeholder efforts” to increase investment in public goods.
Participated in a session at @WorldGovSummit in ????????. Discussed ????????'s policies to address existing challenges, achievements and main priorities. Current econ growth in ???????? is a prerequisite for stability & prosperity to region & beyond. #WorldGovSummit pic.twitter.com/MVhLxfENfc
— Irakli Garibashvili (@GharibashviliGe) February 13, 2023
Thanks to the Government's strong economic policy, as well as the increased economic activity in transport and logistics, financial services, construction, energy and service sectors, including tourism, the trend of high economic growth continued in 2022”, Garibashvili said, noting the 10.5 percent economic growth in 2021 had been followed by 10.1 percent last year.
Pointing to the forecast by the International Monetary Fund for 2023-2027, the PM said Georgia was expected to have the “highest growth among the countries of the region and Europe - five percent per year on average”.
Garibashvili emphasised his Government had stayed “loyal to our national interests and shared values, while serving the needs of our citizens” despite the “constantly changing and evolving environment” over the past year, and noted his office’s vision was to make the country a “symbol of stability, opportunities and development”.
We are committed to creating a strong, dynamic economy that benefits all our citizens. At the same time, we are building a society that is inclusive, innovative and forward-looking”, Garibashvili told the Summit.
Running under the theme of “Shaping Future Governments”, the Dubai Summit is bringing together thought leaders, global experts and decision-makers from around the globe to share and contribute to the development of tools, policies, and models for shaping future governments, and is scheduled to close on Wednesday.