Georgian PM says four-month 9% economic growth leading to budget increase

Georgian Prime Minister Irakli Kobakhidze on Monday said the country’s economy had grown by nine percent in the first four months, leading to an increase in the national budget, with plans to add an extra ₾360 million ($125.66 million) by the end of the year.

Speaking at a Government meeting earlier today, Kobakhidze outlined the augmented budget would primarily benefit healthcare, education, culture, defence and regional development.

It is very important to maintain the current economic growth rate and further accelerate it, directly impacting the budget. These data illustrate this point well”, he said.

Kobakhidze also mentioned the country had achieved “record figures” in tourism and airline markets. He added the Government expected to receive $4.5 billion in tourism revenues and host 7.9 million international travellers this year.

The Prime Minister stated the most recent figures showed “record revenues” from tourism at $808 million for the quarter, a 40 percent increase compared to the pre-pandemic period.

He also highlighted 1.3 million international travellers visited the country during the quarter, an eight percent increase from the previous year, while the number of international tourists reached 939,000.

In addition, Kobakhidze noted achievements in the airline market. He mentioned 13,600 flights were expected to be operated during the summer season, which he said was a “historic high”.

Eleven airlines are now serving 38 destinations in Europe, also representing a historic high. Fifty airlines are operating in Georgia, compared to 23 airlines in 2011. Passenger flow at the airports has also reached a historic maximum, with over 1.4 million passengers passing through. We have good trends and therefore very good grounds for optimism”, he said.

The Prime Minister concluded by noting Georgia had “promising prospects” for further growth in the tourism and airline markets.