Deputy Economy Minister highlights Georgia’s economic growth by 13% in July

Georgian Deputy Economy Minister Irakli Nadareishvili on Friday highlighted the country’s year-on-year economic growth by 13 percent in July, while the average real gross domestic product growth for January-July equalled 9.7 percent.

Nadareishvili noted it was important that the turnover of VAT-paying enterprises also increased “sharply” about 20 percent in July, compared to the same period of the previous year, adding there were 6,344 newly registered business units, a 10.1 percent increase over the corresponding figure from July of the previous year.

• Georgian economy grew 13% in July, says Statistics Office

The official said construction, processing industry, information and technology, as well as trade and tourism sectors had made a “significantly positive contribution” to the country’s economic growth last month.

The mentioned results and, in general, the economic dynamics recorded in the country throughout the year, of course, clearly indicate and emphasise the consistent economic policy and the reforms that the state of Georgia is implementing in a number of economic directions”, he emphasised.

The country’s exports also increased by 29.9 percent to $684.6 million compared to July of the previous year, the increase of local exports was 17.8 percent and, accordingly, amounted to $293.3 million.

The Minister added revenues from tourism increased by 8.1 percent, reaching $1.1 billion, while total income from tourism between January and June amounted to $1.9 billion, a 5.2 percent increase compared to the same period of the previous year.