Standard & Poor’s Global Ratings has increased the economic growth forecast for Georgia from 5% to 8%, revised its outlook from negative to stable and affirmed the country’s long- and short-term foreign and local currency sovereign credit ratings at BB/B, Prime Minister Irakli Garibashvili announced on August 29.
Garibashvili said at a Government meeting the country had experienced a “double-digit economic growth” over the past seven months, which he called “unprecedented amid the challenges in the world” and a result of the Government’s “reasonable and correct policy”.
“If we had taken other, incomprehensible, anti-state, treasonous positions, there would be great trouble in the country today. We understand this very well”, Garibashvili said in reference to policy positions raised by the domestic opposition on a range of matters on the backdrop of the Russian invasion of Ukraine.
The Georgian economy grew by 7.2% in June and by 10.5% in the first six months of 2022, according to the latest data from the National Statistics Office of Georgia. (Agenda/Business World Magazine)
