All indicators of economic growth in Georgia indicate that the positive trends of last year should continue in 2023

All indicators of economic growth in Georgia indicate that the positive trends of last year should continue in 2023 – Georgian Economy Minister

31/01/2023

19:08

Economic

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“The trend of economic growth in 2022 continued in the month of December last year. Economic growth in December was 11% and the final annual economic growth was recorded at 10.1%. These are preliminary data, but we have high hopes that the data will be adjusted towards growth stage,” - said the Minister of Economy and Sustainable Development of Georgia, while commenting on last year's economic indicators.

According to Levan Davitashvili, the economic growth was mainly conditioned by the economic activity in several sectors, including the recovery of the tourism was important, where the revenues amounted to 3.5 billion US dollars. In addition, as the Minister stated, “it is important that the assets were very diversified - both in the field of transport and warehouse logistics, as well as in the direction of real estate, services and production”.
It should be noted that the rating company "Fitch" improved the perspective of Georgia's sovereign credit rating from stable to positive, while leaving the rating unchanged at "BB" level.

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