Deputy Economy Minister: Georgian economy grew 8.2% in March, 7.8% in Q1

Georgian Deputy Economy Minister Vakhtang Tsintsadze on Tuesday highlighted the latest update of figures from the National Statistics Office that put the country’s economic growth in March at 8.2 percent and the average rate of growth in the first quarter at 7.8 percent. Photo: Ministry of Economy

Agenda.ge, 30 Apr 2024 - 17:29, Tbilisi,Georgia

Georgian Deputy Economy Minister Vakhtang Tsintsadze on Tuesday highlighted the latest update of figures from the National Statistics Office that put the country’s economic growth in March at 8.2 percent and the average rate of growth in the first quarter at 7.8 percent. 

Tsintsadze credited increased economic activity in processing industry, information and communication, professional, scientific and technical sectors and real estate with the numbers. 

He also noted the growth of investment and income from tourism had contributed to the positive trend.

The Deputy Minister emphasised the Government's “primary objective” was to maintain high growth, which he said would lead to “creation of additional jobs, increased income for the population, poverty reduction and an improved standard of living”.

He added the International Monetary Fund's April forecast predicted Georgia to have the “highest economic growth” among European Union candidate countries and European states in general between 2024-2029.