Economy Minister hopes national economy to continue growth, GDP per capita to reach $8,500

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.  

In his interview with Imedi TV, Davitashvili claimed the domestic economy was “more resistant” to external shocks than those of other countries.

Our economic policy is probably more prudent, more sustainable [...] I think the economic success of recent years is the main explanation why we can be closer to European Union membership”, he said. 

Even today, with an income of $8,500 [GDP per capita] and a growth rate, we can say Georgia is leading among all [EU membership] candidate countries”, Davitashvili added.

The Minister also told the channel the indicators meant Georgia already met macroeconomic requirements for EU membership. 

Our macroeconomic data are also very close to the main parameters of the Eurozone. I mean, our debt-to-GDP ratio is pretty low; The budget deficit is quite low; Inflation level was 2.5 percent last year, but it was below one percent in the last eight months”, he said.

Davitashvili noted the indicators were “quite promising” for Georgia to be “quite adequate” with the requirements not only for the 2028-2030 expansion package of the bloc, but “even for today”.

The Minister highlighted the Government needed to have a “long-term vision”, noting the 2030 development strategy for the country, which he said was a “very clear, detailed roadmap” of goals.