Economy
Posted: 1 month ago

Georgia Reached Double-Digit Economic Growth in 5 Months

We will continue advancing, developing our country, and reaching peace and stability in the country for the welfare and prosperity of our citizens. It is the call of our people and we will all be delivering it together. It was announced by Irakli Garibashvili, Prime Minister of Georgia at the Executive Government Meeting today.

As the Head of Government of Georgia noted, against the background of economic recession and challenges caused by the war in Ukraine affecting the entire world, Georgia managed to have a double-digit economic growth indicator in 5 months.

"We have a truly spectacular economic growth, according to the preliminary data shared by the Minister of Finance, though actual data is expected from GeoStat. We expect a double-digit economic growth indicator in May as well. It turns out that we have double-digit economic growth in 5 months of the year. It is truly unprecedented for Europe.

Against the background of ruining markets, economic recession and challenges faced everywhere due to the war in Ukraine, we managed to reach a double-digit economic growth indicator in 5 months. We have a record-high indicator of foreign direct investments (FDI) in Q1 of the year as well. Proceeds from tourism are rising, along with trade and export; the national currency (GEL) is appreciated.

We have a positive trend in every direction. Of course, we will maintain this and continue work at an even higher speed. No destructive force will be given an opportunity to jeopardize this process. We will continue the progress and development of our country, reaching peace and stability, along with the welfare and prosperity of our citizens. It is a calling of our people and we will all deliver it together" stated the Prime Minister of Georgia.