Georgian economy to grow by $14.65bln in four years, says Acting Prime Minister

Acting Prime Minister of Georgia, Irakli Kobakhidze, on Wednesday said according to the Government’s electoral programme, the country’s economy was expected to grow by ₾40 billion ($14.65 billion) over the next four years, aiming to elevate Georgia to a “qualitatively different level of development”.

Speaking on Imedi Live, Kobakhidze emphasised the Government’s commitment to fostering economic progress, highlighting “specific programmes” designed to achieve this goal.

There are opposition wishes for the country’s economy to collapse, but the International Monetary Fund has projected that we will be second in the world regarding economic growth over the next five years," he stated.

The Acting Prime Minister further noted Georgia had achieved remarkable economic growth, claiming the top position in Europe and the wider region over the past three years.

Even before, the opposition claimed everything would deteriorate, that the country and the economy would decline. However, we have managed to take the first place in Europe, in the wider region in terms of economic growth over the past three years. Furthermore, this year's growth is even greater than last year's, which is very good”, Kobakhidze said.

We can freely maintain this trend, especially since we have specific projects that will contribute to economic development. Among these projects are initiatives aimed at enhancing connectivity, such as the completion of the [East-West] highway project, the Anaklia project, the Black Sea submarine cable project, and improvements at Tbilisi and Kutaisi airports”, he added.

Kobakhidze concluded by reaffirming economic development was the “main condition” for improving living standards, strengthening foreign political positions, and achieving broader national goals.

The development of the economy is the main condition for improving the living standards of the population. Economic development will be the main priority of our four-year activities," he said, promising more detailed discussions on healthcare, education, and other critical issues in the near future.

He claimed the projects under the Government’s programme guaranteed a “faster pace” of economic development in the country.