(MENAFN- Trend News Agency ) Baku, Azerbaijan, Nov. 22
By Nigar Guliyeva – Trend:
Georgia's exports increased by 28 percent compared to last year, said First Deputy Prime Minister and Minister of Economy Dimitry Kumsishvili.
Kumsishvili, talking to IMF at the sidelines of the IMF's Annual Meetings, said that the economy is growing quite well and the latest growth figure is much stronger than was estimated either by the IMF or the government .
"Tourism is booming, generating 28 percent more revenues than last year. Exports have grown by 28 percent, remittances transfers by 22 percent compared to last year. In the first two quarters, the private sector created an additional 5 percent of new jobs," he said.
The minister noted that to achieve such robust growth, the government worked out a four-pillar reform agenda combining the four strategic directions of economic reforms, open governance, infrastructure investment, and reforms in education.
The Georgian economy has performed well in the past years, posting a 4.7 percent growth rate for the first eight months of 2017, according to the IMF.
Georgia's foreign trade turnover in the first nine months of 2017 increased by 12.1%, compared to the same period of last year, reaching $7.56 billion, according to the preliminary figures released by the state statistics office, Geostat.
Exports from Georgia increased by 28.3 percent year-on-year to $1.94 billion and imports were up by $7.4 to $5.62 billion in January-September, with trade gap standing at $3.68 billion.
MENAFN2211201701870000ID1096125587
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.