Minister: Economic growth fixed in Georgia
Georgia, Tbilisi, Nov. 14 / Trend N. Kirtskhalia /
The progress fixed in the Georgian economy after the Georgian-South Ossetian conflict and the global financial crisis is the result of the effective and coordinated work of the government, Georgian minister of economy and sustainable development Vera Kobalia said in an interview with radio Kommersant on Monday.
She said that Georgia not only resists the challenges but showed economic growth at the beginning of 2010.
"Real GDP growth was 6.4 percent in 2010," she said. "It should be stressed that growth was fixed in almost all GDP components. Special increase was observed in manufacturing industry (20.3 percent), financial sector (14.7 percent), trade (14.1 per cent), hotel and restaurant business (12.9 percent). This trend continued this year. As of six months of 2011, GDP increased by 5.2 per cent."
The unemployment rate reduced in the country due to economic growth. New jobs were created. More people got a stable income. This is one of the priorities of economic policy.
"The salaries increased an average of 13.6 per cent," she said. There are positive trends in business development. This index increased by 14.2 percent in 2010 compared to the previous one."
She also stressed the growth in Georgia's foreign trade turnover in 2011. She said that in 2010 foreign trade turnover increased by 21.4 percent, including exports - by 40 percent. This trend preserved in 2011. As of January-September, Georgia's exports increased by 42 percent.
"This was possible by developing foreign trade relations," she said. "This trend will be maintained in the future."