PM's Advisor: Growing FDIs Indicate Investor Confidence in Georgia's Economic Policy

The Prime Minister’s Economic Advisor Beka Liluashvili states that despite the economic challenges arising from the pandemic and the spread of the virus, foreign direct investments in Georgia in the second quarter of 2020 have grown year-on-year.

These statistics are especially noteworthy in light of the UN predicting a 40% drop in global capital flows and projected investments in 2020, Liluashvili added.

“In light of the pandemic and recession, growing FDIs in Georgia is indicative of investor confidence in the country’s economic policy and a positive attitude toward Georgia’s economic revival. Besides FDIs, our economy, after a period of stabilization, has entered a phase of revival, with the statistics of the country’s economic decline gradually dropping. In June, our economic decline reached 7.7%, but dropped to 5.5% in July. Equally noteworthy are other indicators, such as remittance statistics, fiscal parameters, and expenditure data on the rise and improved economic activities in processing and mining industries, critically important real economic sectors generating new jobs. The Government’s economic package also deserves a special mention in that it has balanced the declining consumption accompanying the crisis. Consequently, people started spending more money to increase consumption and contribute to the economy’s rapid recovery. Accordingly, we expect rapid economic revival and good economic growth statistics next year,” the Prime Minister’s Advisor stated.

By Ana Dumbadze