POLITICS

Minister of Finance: The economy of Georgia has grown by 10% on average according to the data of the last 11 months and it is expected that this growth will be maintained in 2023

09.01.23 18:00


According to the Minister of Finance of Georgia, Lasha Khutsishvili, the economy of Georgia has grown by 10% according to the data of the last 11 months and it is expected that economic growth will maintain this rate in 2023.

 

As Lasha Khutsishvili noted, inflation in the country has started to decrease. According to him, the rate of inflation in December was 9.8%.

 

"From 2023, several changes will be enacted. The salary in public services has already increased by 10%. The exception is the army, police and security services, where salaries have increased by 20%.

 

It is also important that all the social programs will be maintained.

 

I would like to summarize the last year in the economic direction. According to the data of the last 11 months, the economy of Georgia has grown by 10% on average. It is expected that the economic growth in 2023 will be maintained at this indicator. I would like to focus on some macroeconomic parameters. One of the main priorities of the government was to reduce the budget deficit. At the beginning of the year, the actual rate of budget deficit was 4.4, at the end of the year it decreased to 3.1, which is a significant success for the country.

 

Inflation also started to decrease. 9.8% inflation rate was recorded in December. In the coming months, I think the reduction of inflation will accelerate even more", said Lasha Khutsishvili.

 

 

 

source: IPN 

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