Minister: Georgian economy gradually recovering
BAKU, Azerbaijan, Sept.8
By Tamilla Mammadova – Trend:
The increased rate of foreign direct investment (FDI) in the second quarter of 2020 proves that despite the pandemic the Georgian economy is gradually recovering, said Georgian Economy Minister Natia Turnava, Trend reports via Georgian media.
Foreign direct investments in Georgia amounted to $237.8 million in the second quarter of 2020, which is a 0.5 percent increase compared to the same period of 2019.
Turnava said that the positive dynamics are taking place against the background of the global pandemic and at a time when international experts predict a 40 percent drop in investment globally.
The prime minister's advisor for economics Beka Liluashvili says that the increase in foreign direct investments indicates that investors trust the economic policy of Georgia.
"Other economic indicators, such as remittances, fiscal parameters, spending indicators, have improved and economic activity has recovered in the manufacturing, mining and manufacturing industries, which are real sectors of the economy and critical to employment", he said.