Georgian agriculture minister says agribusiness production reached over $6B in 2023

Georgia Materials 30 May 2024 00:34 (UTC +04:00)
Ingilab Mammadov
Ingilab Mammadov
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BAKU, Azerbaijan, May 30. Georgian Agriculture Minister Otar Shamugia informed Parliament on Wednesday that the domestic agribusiness output had reached a "record-high" of $6.1 billion last year, reflecting an average annual increase of 10 percent, Trend reports.

In his report on the Ministry’s 2023 activities and statistics, Shamugia attributed this growth to the Government's support programs over the past five years.

He noted that overall investments in the agricultural sector exceeded $2.7 billion, with the state contributing nearly $738 million in co-financing. Shamugia emphasized that new initiatives and programs provided opportunities and incentives for farmers and businesses to invest in agriculture.

He also reported a 7.8 percentage point decrease in rural unemployment over recent years, with the lowest rate at 14.6 percent.

Furthermore, Shamugia highlighted that the unemployment rate had improved further, dropping to 13.5 percent in the first quarter of this year.