ECONOMY
30.11.23 14:20
The Georgian economy grew 6.9 percent year-on-year between January-October and by 6.2 percent in October alone, the National Statistics Office said on Thursday.
Last month the growth was mainly driven by the estimated real growth in financial and insurance activities, wholesale and retail trade, repair of motor vehicles and motorcycles, transportation and storage.
However, decline was registered in manufacturing and real estate activities, the Office added.
The World Bank in October revised the 2023 growth forecast for Georgia upward to 5.9 percent. The Asian Development Bank also raised its growth forecast for 2023 from the earlier 4.5 to 6 percent, saying "high foreign direct investment and lower unemployment" had supported “strong growth” for the Georgian economy.
The Government has also raised its growth forecast for 2023 from the earlier five to 6.5 percent and was adjusting the state budget with a ₾500 million ($184.86mln) increase based on the increased growth rate.
The country’s budget for 2024 is being planned with five percent growth.
Agenda.ge
Read: 253
Write comment
(In their comments, readers should avoid expressing religious, racial and national discrimination, not use offensive and derogatory expressions, as well as appeals that are contrary to the law)
News feed
-
Georgian Parliament holds yellow security level
12:0903.05.24
-
18:0002.05.24
-
Georgian Parliament Speaker, EU official review cooperation, integration
17:3202.05.24
-
US State Department condemns foreign influence bill advanced in Georgian Parliament
16:4002.05.24
-
Georgian Economy, Finance Minister review cooperation, projects with World Bank Executive Director
16:0002.05.24
-
15:0502.05.24
-
14:2902.05.24
-
13:5202.05.24
-
Austrian Airlines launches Vienna-Tbilisi flights
13:0002.05.24
-
12:1002.05.24
-
Health Ministry: Eight hospitalized during protest, patients' health conditions are satisfactory
11:2202.05.24
-
Ursula von der Leyen: Georgian people want European future for their country
10:1602.05.24
-
Is Echmiadzin opposed to peace in the South Caucasus? Once again...
18:5701.05.24
-
Georgian Parliament official highlights “threats” of external interference among “European public”
18:0001.05.24
-
17:0801.05.24
-
16:2701.05.24
-
15:2701.05.24
-
Josep Borrell Responds To The Situation In Georgia
14:4301.05.24
-
Tbilisi Mayor says Europe needs worthy, strong states
14:0001.05.24
-
Georgia imported 265 tons of lentils in January-March
13:3101.05.24
-
12:5001.05.24
-
12:0501.05.24
-
11:3101.05.24
-
10:5001.05.24
-
Yellow level of security regime to be again in effect in Parliament today
10:1601.05.24
-
Armenians in the Ottoman Empire: What Was, What Could Have Been and Today's Reality
7:5501.05.24
-
18:0530.04.24
-
Vice-President of the European Commission: I advised Ilia Darchiashvili to review our directive
17:1030.04.24
-
The Parliament elected Giorgi Kalandarishvili to the post of CEC Chairman
16:1530.04.24
-
15:4030.04.24
-
According to the government's decree, May 7, 8, and 10 were declared public holidays
13:5930.04.24
-
13:2130.04.24
-
Geostat: Georgia's economy grew by 8.2% in March
12:5030.04.24
-
President: Today, some people want to portray our 30-year-old allies and partners
12:0530.04.24
-
Georgian PM says “no alternative” to opening EU accession talks with country this year
11:3230.04.24
-
Ruling party Honorary Chair says “majority” of public “firmly support” NGO “transparency”
10:5130.04.24