“The government’s goal is to maintain a high rate of economic growth and make it more inclusive,” said Vakhtang Tsintsadze, Deputy Minister of Economy and Sustainable Development.

According to Vakhtang Tsintsadze, Georgia’s economic growth is impressive in the region and Europe. The Deputy Minister announced decisions and initiatives to accelerate economic growth “for the benefit of every Georgian citizen.”

“The government has ambitious plans for 2024,” he said and noted that those “positive activities” would improve the competitiveness of small and medium-sized businesses, attract investments, develop infrastructure and create job places.

The estimated real Gross Domestic Product (GDP) growth rate amounted to 9.5 per cent for February 2024 compared to the previous year, and the average real GDP growth for January-February 2024 equalled 7.7 per cent, the Georgian National Statistics Service (GeoStat) reported.

The growth was observed in manufacturing, construction, professional scientific and technical activities, information and communication, and transportation and storage. Energy, mining and quarrying activities showed declines.