Otara Nadaraia, Chief Economist of TBC Bank declares, that without the development of new sectors of the economy, it is impossible for Georgia to have a continuously high economic growth of 10%.
Otar Nadaraia notes that it is unknown how the government is considering to achieve such high economic growth while talking about the government's 10-year strategy.
"First of all, it must be said how feasible it is. So far, the 10-year plan and specific sectoral priorities, as well as the priorities of the state strategy, have not been voiced in detail. The Prime Minister also noted that this work will be completed by September. It is good that the private sector is also involved in its preparation, at least we were at the meeting with international experts. Perhaps then we will understand the specific indicators in more detail.
In general, Georgia already has the potential for economic growth above 5% per year, so in order for 5% and 6% to become 10%, it needs a completely different transformation. It is true that we have a 10% increase in 2021, but this figure will not be 10-10.5% if we do not find new sectors, as we have had a boom in tourism and I am sure it will happen again,"- explains Otar Nadaraia.
Speaking in parliament on June 25, Prime Minister Irakli Gharibashvili said that according to the 10-year plan, Georgia's GDP should increase to $ 10,000 per capita by 2030. That means a 2.3-fold increase from $ 4,274 today.
