He also pointed out the “positive dynamics” of economic growth, saying the figure in June amounted to 7.2 percent, with the average growth for January-June standing at 10.5 percent and naming the growth in the country “outstanding” not in the region, but throughout Europe. Photo: Nino Alavidze/Agenda.ge
Economic growth in Georgia is observed at a higher than expected level, a process contributing to the stabilisation of the share of the Government debt to the gross domestic product, Prime Minister Irakli Garibashvili said on Monday.
During the discussion of Fitch Rating’s latest update which affirmed the country at BB credit rating, the government head noted that compared to countries with a similar rating, Georgia had “significantly higher” governance indicators.
It should be noted that the report emphasises that compared to countries with a BB rating, Georgia has both a credible and effective policy framework and open governance indicators,” Garibashvili said.
Six-month double-digit economic growth “result of reasonable policy” – PM
He also pointed out the “positive dynamics” of economic growth, saying the figure in June amounted to 7.2 percent, with the average growth for January-June standing at 10.5 percent and naming the growth in the country “outstanding” not in the region, but throughout Europe.
Pledging to do his utmost to maintain the growth dynamics, the PM also said exports in Georgia increased by about 28 percent and amounted to $448 million.
Georgian economy grows 10.5% in January-June
Additionally, he noted the level of recovery of revenues from tourism in June totalled 88.7 percent, amounting to more than $300 million.
A “significant increase” in the volume of remittances was also highlighted by the official, saying in June the figure amounted to $427 million.
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