The FINANCIAL — According to the National Statistics Office of Georgia, the real growth of the economy in the first quarter of 2017 was 5.1% while in the second quarter it was 4.7%.
Accordingly, in the first half of 2017, the country’s economic growth reached 4.9% compared to the same period of the previous year.
Beka Liluashvili, the Head of the Economic Reforms Division of the Ministry of Economy and Sustainable Development of Georgia, evaluates the economic growth indicators marked in the first half of the year to be of outmost importance. According to Liluashvili, this growth is remarkable since its main contributor is the private sector. In addition, Beka Liluashvili noted that the current positive trends have already been reflected in the business sector’s employment and output growth indicators, according to Ministry of Economy and Sustainable Development of Georgia.
“In addition to the improved internal factors, regional and external factors have also been significantly improved, which is particularly obvious regarding the export of Georgian goods and services as well as the tourism. Export of goods is increased by 30.1% in the first half of 2017, while the revenue from the tourism is increased by 26%. In case of maintaining the existing internal and external positive factors, we have absolutely legitimate expectations that Georgia’s economic growth will exceed the forecasted figures” – Beka Liluashvili stated.
Liluashvili also confirmed that the highest contributors to the economic growth in the second quarter of 2017 were such sectors as construction (1.5 pct), transport and communications (0.7 pct), trade (0.6 pct) and real estate (0.5 pct). It should be noted that real growth was observed in almost all sectors of the economy.
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