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Georgian gov’t increases economic growth forecast in 2012

Business Materials 8 May 2012 17:39 (UTC +04:00)
The Georgian government has raised the economic growth forecast in 2012 from five to six percent, Georgian Prime Minister Nika Gilauri said at a governmental meeting today.
Georgian gov’t increases economic growth forecast in 2012

Georgia, Tbilisi, May 8 / Trend N. Kirtzkhalia /

The Georgian government has raised the economic growth forecast in 2012 from five to six percent, Georgian Prime Minister Nika Gilauri said at a governmental meeting today.

"The state budget, which increased by 200.6 million lari ($ 1 = 1.64 lari), will be designed for six percent economic growth," he said.

He said that budget figures for this year were forecasted on the basis of the forecast of economic growth by five percent.

Gilauri stressed that the recent analysis has shown that economic growth will amount to six percent. This is confirmed by the International Monetary Fund's forecasts.

He said that the expectations of inflation growth will be changed in the budget forecasts. This figure is reduced from six to five per cent.

He added that the production volume of the country's GDP will hit approximately 27 billion lari in 2012, while the volume of GDP per capita - $3,500 or 4 times more than in 2003.

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