PM candidate highlights economic development in 10-month programme to Parliament
Irakli Kobakhidze, the candidate for the position of the Prime Minister of Georgia, said economic development of the country would be given “special importance”. Photo: Georgian Dream press office
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Irakli Kobakhidze, the candidate for the position of the Prime Minister of Georgia, on Wednesday said economic development of the country would be given “special importance” while presenting the Government programme for the next 10 months to the Parliament.
He said the programme would make “maximum emphasis” on “further increasing” the pace of economic development, with “specific initiatives” to be implemented for the purpose.
Particular emphasis will be placed on further development of our strategic geographical location and transit function, which is of particular importance for the advancement of the economy. In this regard, special attention will be paid to infrastructure development in various directions. This concerns roads, aviation transport, railways [and] communications”, Kobakhidze said.
The official also reviewed economic development of the past 10 years and said the Government had managed to overcome challenges amid crises between 2015-2016 and 2020-2021.
Ultimately, we managed to overcome these crises. Especially during the last year, the economy has grown significantly. Our nominal economy in US dollars has almost doubled during these three years, and rapid economic growth has given us the opportunity to qualitatively improve economic and fiscal indicators”, he said.
The candidate for PM added the foreign debt of the country had been “radically reduced” in the same period.
[T]he foreign debt was more than 60 percent by 2020, and the ratio of the country's foreign debt to the gross domestic product has been reduced to 39.5 percent. Also, the budget deficit decreased from 9.3 to 2.5 percent. The current account deficit has fallen below five percent, and the inflation rate for the last eight months is less than one percent”, Kobakhidze said.
The official said the ruling Georgian Dream party would present a new, four-year Government programme following the assembly of the Parliament after the general elections, scheduled to be held in October.
He added the new programme would outline “new initiatives” based on the party’s election programme.
Lasha Khutsishvili, the candidate for the post of the Finance Minister of Georgia, on Tuesday told Parliamentary committees the Government would focus on “fostering rapid economic growth” and strengthening economic ties with the European Union.
Levan Davitashvili, the candidate for the position of the Minister of Economy, on Tuesday said Georgia had enjoyed “one of the highest economic growth rates” among the countries of the wider region and Europe and the candidate states for European Union membership in 2023.
The Georgian Government’s new state programme For Building the European State, published by the Parliament on Friday, says the country’s Euro-Atlantic integration and further success in this regard, remain a key foreign policy objective under the Constitution of Georgia.
The Georgian Parliament on Friday published the Government’s new state programme titled For Building the European State, which highlights the main goals of the Government - maintaining “a stable and safe” environment for citizens, strengthening democratic institutions, stimulating the economy “more” and taking “effective steps” necessary for the country’s integration into the European Union.
Irakli Kobakhidze, the candidate for the position of the Prime Minister of Georgia, on Wednesday said construction of the Anaklia deep sea port in the country’s north-west would be “one of the main priorities” of his Government.
Irakli Kobakhidze, the candidate for the position of the Prime Minister of Georgia, on Thursday said peaceful restoration of the country’s territorial integrity and “complete overcoming” of poverty were the “two most important national tasks” of the Government.
Georgian Economy Minister Levan Davitashvili on Sunday said he hoped the national economy would continue growth this year and see the gross domestic product per capita reach the $8,500 mark.
Georgian Economy Minister Levan Davitashvili on Monday said “many important tasks” were set to be accomplished by his office in 2024, adding the Government would work in a “coordinated, high-level manner” to achieve the goals.
Georgian Prime Minister Irakli Kobakhidze on Friday said the Government would present a new, four-year plan that would be both “ambitious and realistic” and would “qualitatively strengthen” the economic, trade and transit potential of the country.