As of first quarter, Georgian economy grows at fastest pace in South Caucasus

16/05/2022

14:09

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The Georgian economy started the current year positively. According to the National Statistics Office of Georgia (Geostat), in the first quarter of 2022, the average growth rate of the Georgian economy was 14.4%. It should also be noted that the country's economic growth was 11.9% compared to the baseline 2019. As a result, Georgia is a leader in the economic growth rate across the neighborhood.

As for other neighboring countries, for example, the economy of Azerbaijan in the first quarter of this year grew by 6.8% compared to the same period in 2021. The economic growth rate compared to the pre-pandemic period is 7.7%.

In the first quarter 2022, the Armenian economy is also growing. More specifically, the country's economy grew by 9.6% in January-March. The economic growth rate compared to the pandemic period was 7.4%.

Accordingly, it turns out that in the first quarter of this year, Georgia has reported the fastest economic growth rate in the neighborhood. Similar dynamics are maintained in the case of the existing statistics compared to the pre-pandemic period.

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