Georgian PM highlights 13% economic growth in July, “high” growth rate as “best way” to combat unemployment, poverty

Georgian Prime Minister Irakli Kobakhidze on Monday said the country had experienced a 13 percent economic growth in July and emphasised maintaining a “high” growth rate was the “best” approach to combat unemployment and poverty.

The main thing for us is to maintain this high rate of economic growth, which is, naturally, the best way to overcome unemployment and poverty. All this, of course, will gradually raise the quality of well-being in our country”, Kobakhidze said.

• Georgian PM vows to “eliminate” unemployment, poverty by 2030 amid “rapid” economic growth

He told a Government meeting the average growth over the seven months stood at a 9.7 percent, adding the country had attained the “highest” growth rate in Europe and among countries in the wider region.

The estimated real growth contributed “significantly” in construction, manufacturing, information and communication, professional, scientific and technical sectors and trade in July, according to the Georgian National Statistics Office.

• Georgian PM: economic growth has reached “highest” rate in Europe, wider region with goal is to maintain trend

Unemployment rate decreased by 3.1 percent year-on-year in the second quarter of 2024 and equalled 13.7 percent across the country, based on an update of data from the Office, published in August.