BAKU, Azerbaijan, May 31
Tamilla Mammadova – Trend:
April saw a 44.8 percent economic growth, that is, almost 45 percent, which is truly unprecedented and positive, Georgian Prime Minister Irakli Garibashvili stated at Cabinet meeting, Trend reports via Georgian media.
"From January though April, we had over 8 percent growth on average, 8.1 percent, which is good news. In April of 2020, we had a very low drop in Georgia’s economy, which is understandable. Of course, we believe that this year’s economic growth will be much higher and faster than forecast previously. Importantly, the updated indicators look much more promising. Export in April grew by 70 percent and remittances are up 144 percent, and it is very positive that the dynamic of budget revenues is also very convincing and optimistic," Garibashvili stated.
He also emphasized that the reopening of land borders on June 1 will be another significant stimulus towards economic recovery.
"We expect rapid tourism recovery. The new fiscal plan presented today also projects a 7.1 percent reduction in the budget deficit. The Finance Minister will discuss this issue in detail. I must also emphasize the role of political stability in economic life. Political stability is also very important to our private sector, for attracting investors. The Eurobonds issued about a month ago with a very low interest rate are yet another illustration of investors’ trust. All that is indicative of rapid economic recovery and comes across as great news," he noted,
While discussing April’s economic growth indicators, he commended it as a result of the Government’s correct policy.
"It is a result of the Government’s correct policy and steps taken by us. Extremely positive attitudes are found in business, and very positive expectations, also an important factor. Our task is to promote tourism recovery further," the Garibashvili concluded.
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