
“Georgia was able to maintain economic stability against the backdrop of the acute geopolitical situation in the region and the globally deteriorating economic prospects. The trend of high economic growth continued in 2022 and after the 10.5% economic growth recorded in 2021, a double-digit economic growth was also seen in January-October 2022 and amounted to 10%. According to the basic forecast of the Georgian government, we will finish with a double-digit economic growth in 2022, - the Minister of Economy and Sustainable Development of Georgia Levan Davitashvili said during his speech at the presentation of the economic memorandum of Georgia prepared by the World Bank - Charting Georgia’s Future: Competitive, Connected and Capable.
The country's economic memorandum reflects Georgia's achievements over the past decade, as well as recommendations for sectoral policies, so that the country can achieve success in the next decade as well.
"We are ready to build on this success and step up work to support productivity-enhancing reforms, improving international connections, increasing Georgia's integration into global value chains, and opening new opportunities for digitization and innovation," - Levan Davitashvili noted.
According to Levan Davitashvili, the partnership between Georgia and the World Bank dates back more than 30 years, and the World Bank is Georgia's main partner in developing economic policies and implementing important investment projects, including improving the competitiveness of the private sector, carrying out structural reforms, developing infrastructure, and increasing access to finance for small and medium-sized businesses.
The Minister stated “Georgia continues to implement complex structural reforms, which will contribute to the achievement of long-term economic goals and the acceleration of economic growth stipulated by the private sector. Among them, such reforms as: complex reform of state enterprises, support of renewable energy with fiscally sustainable mechanisms and capital market reform. He also drew attention to the transit potential of Georgia, in the direction of which the corresponding policy was implemented. According to his assessment, the transit corridor passing through Georgia has great prospects.
The Minister of Finance Lasha Khutsishvili and the World Bank Regional Director for the South Caucasus Sebastian Molyneus also spoke at the presentation.
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11/07/2025