Government Points to Positive Tendencies in Country’s Economic Growth

Prime Minister of Georgia, Giorgi Kvirikashvili, noted during the government meeting held last week that 2017 has started with positive trends in the country’s economic growth.

Following the rapid estimates of economic growth for February 2017, the data recently published by the National Statistics Office of Georgia (Geostat), showed that the estimated real Gross Domestic Product (GDP) growth rate was 4.4 percent in February this year, equaling 4.8 percent for estimated real GDP average growth for January and February 2017, while in the month of January, according to the Geostat data, GDP growth rate amounted to 5.2 percent.

As PM Kvirikashvili noted, the economic growth is defined by positive dynamics in various directions, such as enterprise turnovers, considerable export growth, increased tourist numbers and remittances.

“These numbers show that the Government’s four stage plan is working in its fiscal and structural reform parts and that the budget planned for this year is absolutely realistic. The fact that we have successfully finalized negotiations with the International Monetary Fund and that today we have a green light to receive financing from international financial institutions means that our plans are realistic and we’re moving on towards their implementation,” the Prime Minister said.

The manufacture industry saw 9 percent growth, transport sector 8.7 percent, construction 12.5 percent, trade 6.1 percent, export of goods 27 percent; tourism revenues increased by 20.4 percent, wine export by 61.4 percent, medical goods export by 88 percent, mineral water export by 27.5 percent and alcoholic beverages by 35 percent.

Nino Gugunishvili