Georgian PM, Economic Council discuss country’s economic growth, stability
The Georgian Government’s Economic Council, led by Prime Minister Irakli Kobakhidze, on Sunday discussed the “positive trends” of the country’s economic growth, the Government Administration said. Photo: Gov't Administration
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The Georgian Government’s Economic Council, led by Prime Minister Irakli Kobakhidze, on Sunday discussed the “positive trends” of the country’s economic growth, the Government Administration said.
The body said the meeting had highlighted the stability maintained by the Georgian economy owing to “sound macroeconomic policies”.
The meeting also focused on ongoing and upcoming projects, particularly in the transport and logistics sector, and discussed investors’ interest in large investment projects.
At the meeting held in the Government Administration, the Council members also addressed new Government initiatives.
The Georgian economy has been projected to grow 5.2 percent in 2024 in the June edition of the World Bank’s Global Economic Prospects report, published on Wednesday.
The National Statistics Office of Georgia on Monday said domestic inflation for May, calculated using the European Union methodology, had stood at 2.4 percent - 0.4 percent higher than the two percent inflation calculated using the national methodology.
Mikheil Dundua, Georgian Deputy Finance Minister, on Saturday told TV Imedi the Government was expecting to see a “double-digit” growth this year based on four-month data of related figures.
Georgian Economy Minister Levan Davitashvili on Monday highlighted the role of the domestic construction sector in driving economic growth and development in the country, noting the industry had seen a 17 percent increase in real added value in 2023 and contributed 7.9 percent to the growth of the domestic economy.