“Georgia’s gross domestic product per capita will reach $8,000 in 2023 while the current year is on track to close with 10 percent economic growth,” – the Prime Minister Irakli Gharibashvili said on Tuesday, while delivering the report on the Government’s work.
"We will have a 10% economic growth this year again. Last year we had 10.5% of economic growth. For comparison, gross domestic product per capita in 2020 was about $4,200, in 2021 it increased, and this year it is already expected that GDP per capita will be approximately $6,700 and according to our forecasts, in 2023 it will reach $8,000.
“The economy of our country was about GEL 50 billion ($18.52bln) in 2020, while it will be GEL 80 billion ($29.63bln) in 2023 - that is, we have an increase of GEL 30 billion ($11.11bln) in three years, which is quite serious progress.
We have significantly increased exports during the past two years - a 32% year-on-year increase between January-November. This change has taken the figure to the $5 billion mark. Domestic exports increased by 21% y/y and totalled $3.4 billion in the reporting period", - Gharibashvili said.
The Prime Minister said the tourism sector had fully recovered from the COVID-19 hit, and noted revenues from international tourism had reached $3.2 billion this year.
The PM also said foreign direct investments in the country had increased by 100% y/y and totalled $1.7 billion in the first 10 months of the year, adding the share of the European Union in the total number of FDI stood at 47%.
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