Georgia’s Kumsishvili: Tourism and Export up by 28%

First Vice-Premier and Minister of Economy Dimitry Kumsishvili told International Monetary Fund (IMF) that tourism and Georgia's exports have increased by 28% compared to last year.

“Tourism is booming, generating 28% more revenues than last year. Exports have grown by 28% and remittances transfers by 22%,” the Minister stated.

Kumsishvili, talking on the sidelines of the IMF Annual Meetings, said that to achieve such robust growth, the government had worked out a Four-Point Reform Plan which combines four necessary strategic directions: economic reforms: open governance, infrastructure investment, and reforms in education.

“In the first two quarters [of 2017], the private sector created an additional 5% of new jobs,” he added.

The IMF states the Georgian economy has performed well in recent years, posting a 4.7% growth rate for the first eight months of 2017.

By Thea Morrison