Georgia’s GDP growth in January-September amounted to 10.2%

The economic growth of Georgia in September 2022, compared to September last year, amounted to 8.8%. These are the preliminary data of the National Statistical Service of Georgia (Gruzstat).

According to the agency, in September, the following industries made a significant contribution to GDP growth: transport and warehousing, information and communication, construction, hotels and restaurants, processing and mining. At the same time, there was a decline in real estate activities.

According to Gruzstat, the average growth rate of Georgia’s GDP in January-September this year is 10.2%.

Prime Minister Irakli Garibashvili today reiterated that the country has “unprecedented economic growth”.

“I would like to remind you that against the backdrop of current geopolitical challenges and tensions, we maintain high rates of economic growth in the country. For 9 months, economic growth in Georgia is 10.2%. This is unprecedented across Europe. And by the end of the year, we expect double-digit economic growth,” Garibashvili said at a government meeting.

It should be noted that double-digit economic growth is expected this year in Armenia as well. This was stated by the Chairman of the Central Bank of the country Martin Galstyan. He, in particular, said that the growth of human capital in the IT sector amounted to 25%. “Talented, well-educated people are moving to Armenia, which can have a lasting effect,” he said.