Prime Minister Irakli Garibashvili stated that the economic growth in Georgia in October amounted to about 7%, while growth in the past 10 months totaled 10.5%, calling it “unique, unprecedentedly high growth across Europe”.
He also said several days ago that the gross domestic product in Georgia would reach a historic high in January 2022 amounting to 65 billion GEL (about $20 billion or EUR 18 billion), noting that Georgia’s GDP per capita in January 2022 would be $5,500.
The estimated real gross domestic product (GDP) growth rate in September equaled 6.9% YoY and 11.3% in January-August.
The National Statistics Office of Georgia (Geostat) reported that the Georgian economy decreased by 6.1% in 2020.
The Europe and Central Asia Economic Update published by the World Bank says that the Georgian economy is unlikely to recover to pre-Covid levels until late 2022.
The International Monetary Fund (IMF) projects the Georgian economy to grow by 7.7% in 2021 and by 5.8% in 2022. (Agenda/Business World Magazine)