Georgian economy projected to grow - PM

Business Materials 5 July 2021 15:31 (UTC +04:00)
Georgian economy projected to grow - PM

BAKU, Azerbaijan, July 5

By Tamilla Mammadova – Trend:

Georgian economy to grow 7.7 percent this year, said Georgian Prime Minister Irakli Garibashvili, Trend reports via Georgian media.

According to him, the nominal gross domestic product (GDP) will amount to 57.2 billion lari (about $18.13 billion).

"We had an unprecedented economic growth of 45 percent in April. In May, we had a 25 percent growth, which led to a change in this year's forecast, and this year, according to our updated forecast the economy will grow by 7.7 percent, and the nominal GDP will be 57.2 billion lari", Gharibashvili said.

The World Bank's report Global Economic Prospects 2021 reads that the Georgian economy is projected to grow 6 percent in 2021, 5 percent in 2022, and again 5 percent in 2023.

The estimated real GDP growth rate in May 2021 amounted to 25.8 percent year-on-year and 11.5 percent from January through May of 2021 year-on-year, show preliminary data from the National Statistics Office of Georgia.


Follow the author on Twitter: @Mila6197935