Our decisive actions have contributed to the creation of 230,000 jobs in Georgia over the past two years. We have succeeded in stabilizing inflation at 9.4%, and as a target, we intend to reduce inflation to 5% in 2023, Prime Minister of Georgia Irakli Gharibashvili announced at the World Government Summit.
As the head of the Government noted, the goal of the Government is to make Georgia a real multidimensional regional hub.
"A significant increase in foreign direct investments was recorded in 2022 as well, the volume of which doubled compared to previous years and increased by 101.7% in principle. Our decisive actions have contributed to the creation of 230,000 jobs in Georgia over the past two years. We have succeeded in stabilizing inflation at 9.4%, and we intend to reduce inflation to 5% in 2023 as a target. Many large-scale energy, infrastructure and logistics projects are underway and planned to further stimulate our economy and bring more prosperity to our people.
Our goal is to turn Georgia into a real multidimensional regional hub and we are actively working with the world's leading companies. Georgia serves 8 landlocked countries and is the gateway between Europe and Asia. My country already plays an important role in East-West trade relations. Georgia offers international companies a competitive environment to expand their business in the larger region, which will reduce their operating costs. Companies passing through Georgia will be able to benefit from access to Europe's 2.3 billion consumer market without customs fees or import taxes. Georgia has free trade agreements with China, CIS, European Free Trade Association countries, Ukraine and Turkey. In addition, we enjoy the advantages granted by the deep and comprehensive free trade area with the European Union," said the Prime Minister.
