The estimated real gross domestic product (GDP) growth rate in August amounted to 10.3% YoY and 12% in January-August, preliminary data from the National Statistics Office of Georgia (Geostat) showed.
Last month the following industries of the economy posted growth compared to the same period of the previous year: manufacturing, financial and insurance activities, trade, electricity, gas, steam and air conditioning supply, hotels and restaurants, transportation and storage, arts, entertainment and recreation.
A decline was registered in construction, mining and quarrying.
Georgian Prime Minister Irakli Garibashvili said that the economic growth data of Georgia “is unprecedented in the region” and it became possible to achieve high economic growth thanks to state programs such as Preferential Agro-Credit, Produce in Georgia, Plant the Future and others.
He said that starting from 2022, the government would implement larger programs and would invest 2.5 billion GEL in the development of local production, while 7 billion GEL would be invested in agriculture. (Agenda/Business World Magazine)
