To illustrate some of our progress, let me highlight that following the Covid pandemic, Georgia's economy rebounded with a double-digit growth rate of more than 10% in 2021 and 2022. My Government has maintained this positive trend in 2023, with an average economic growth rate of 7% in the first 9 months, along with the inflation rate of less than 1%, - Prime Minister of Georgia Irakli Gharibashvili said at the 22nd ministerial session of the Central Asian Regional Economic Cooperation (CAREC) program.
According to him, overall, the country's national economy has tripled since 2012.
„In 2012, the nominal GDP was 27 BLN GEL, while in 2024 it is projected to reach 86 BLN GEL. With 8000 USD expected at the end of 2023, in just 3 years, GDP per capita has nearly doubled. Additionally, our official reserve assets reached a historic high in July this year, while the unemployment and poverty rates are at historical lows.
Dear Friends, acknowledging the growing energy demand and the urgency of addressing climate change, we are pursuing state-of-the-art ventures in renewable energy, including hydropower, wind, solar and other sustainable sources. Our objective is to attract investors to establish more power plants to utilize Georgia's abundant green energy potential.
Also, we work hard to develop projects in the field of energy efficiency and stand ready to develop relevant policies in accordance with the obligations of the United Nations Framework Convention on Climate Change (UNFCCC), as well as the EU-Georgia association agenda.
In conclusion, I would like to emphasize the significance of CAREC for the whole region and the feasibility of implementing the goals set by this Program. I hope that today's ministerial conference will be successful and fruitful, aiding our shared aspiration for a prosperous and sustainable future”, said the PM.