27.Jun .2022 13:00

We Expect Double-Digit Economic Growth In May – PM

We Expect Double-Digit Economic Growth In May – PM
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Georgian Prime Minister Irakli Garibashvili declares, that GDP will grow by double-digit in May in Georgia. He has announced that before the start of the government meeting.

"We have very good economic growth. According to the Minister's preliminary information, we expect double-digit economic growth in May - it turns out that in 5 months we will have double-digit economic growth, which is unprecedented in Europe against the backdrop of world markets crashing, the economy is in recession and against the backdrop of Ukraine war there is a problem everywhere”, - PM said.

Geostat will publish a preliminary estimate of May Economic Growth on June 30. According to Gharibashvili, against the background of this crisis, exports, foreign direct investments and tourism are growing in Georgia.

“GEL is strengthened. We have positive dynamics in all directions and we will certainly maintain it. We must continue to work at an even faster pace," said the Prime Minister.

We also have a record rate of foreign direct investments. Growing tourism, trade, exports, GEL is strengthened. We have positive dynamics in all directions. We will maintain this and continue to work at an even higher pace.”, - the PM added.

As of Geostat, the Georgian economy grew by 10.8% in the first 4 months of this year. According to the government, the country's economy will grow by 6% annually.