Economy Minister: Georgia “active, responsible member” of int’l community in implementation of sanctions

Levan Davitashvili, the Georgian Economy Minister, on Friday said Georgia was an “active and responsible member” of the international community in implementation of sanctions imposed on Russia for its invasion of Ukraine.

The Minister also noted the “mood” of investors was “quite positive” toward Georgia, as the country had an “attractive investment environment”. 

Davitashvili emphasised the country’s economy was “growing steadily”.

In the current year, we have 9.7 percent economic growth in the first seven months. We think that we will maintain high economic growth. Look at the correction of the ADB forecast - they revised the growth of Georgia's economy. This was expected. Other international organisations also agree that Georgia will have high economic growth in the medium term - 5.5 percent”, he said.

High economic growth along with maintaining the stability of other parameters is important for the country to change for the better and the standard of living in Georgia to improve. Therefore, maintaining positive economic processes is very important”, Davitashvili added.

The top official also said Georgia had “attractive investment environment”, pointing out the discussions were ongoing with potential investors, while also adding the country needed to “maintain stability to ensure a predictable environment for foreign direct investment”.