The Minister of Economy Levan Davitashvili declares, that it will be difficult to maintain the country's further economic growth without an increase in productivity.
According to him, this issue was emphasized at the presentation of the country's economic memorandum prepared for Georgia by the World Bank.
Speaking to journalists, Levan Davitashvili noted that the country has a 30-year history of successful cooperation with the World Bank. According to him, the memorandum presented by the World Bank was also complex.
"It was mentioned that during the last 10 years, the region of Georgia and Europe has the strongest economic growth and the real transformation of the country has taken place. During 10 years, Georgia has shown significant progress in terms of economic development, among which Georgia managed to halve the poverty level, but it still remains the main challenge for the country. In addition, Georgia has shown resilience to international economic shocks. In 2019, Georgia became a country with a higher than average income.
All this is the beginning of the success of Georgia, which is going through important reforms carried out by the government, where we will consider the support of the World Bank. We are talking about the fact that the further growth of the economy will be difficult for us in Georgia without increasing productivity. Georgia should manage to raise the level of education even more, education should be more adequate in order to increase productivity at the level of companies," said the minister.
