Irakli Garibashvili, Prime Minister of Georgia held and led the Economic Council Meeting at the Government Administration today. Members of the Council reviewed the positive trends witnessed in the economy of the country.

It was noted that a record-high boost of the foreign direct investments (FDI) has been observed in the country. Namely, volume of inflows reached 505.7 MLN USD in Q2 of 2023, which is by 29.9% higher than the verified data of Q2 in 2022.

Increasing trend of foreign trade indicators was reviewed as well. It was noted that trade volume reached 1.766.1 MLN USD in August 2023. It grew by 16.8% in January-August and reached 14 001.1 MLN USD.

As for the export data, it grew by 14.3% in January-August and 4.075.5 MLN USD. As for the import data, it grew by 17.8% in January-August 2023 and reached 9.925.7 MLN USD.

Transport and logistics initiatives were discussed at the meeting, along with a performance of large investment projects that are currently implemented or planned in the country. Namely, development of the Anaklia Port was discussed and information was received about the selection of a private sector partner towards this end.

Measures implemented within the scope of the Georgian Railway JSC under modernization was discussed at the meeting too. It was noted that after the said modernization of the railway, which will be completed in 2023, throughput of cargo will increase and double.

Report was heard about the grape harvest collection at the meeting too. As of September 13, almost 51 000 tons of grapes were processed in total, out of which 27 000 tons of Rkatsiteli, almost 20 000 tons of Saperavi, 1.54 thousand tons of Kakhetian Mtsvane and other species. Harvest was sold to wineries by 5600 vineyard owners.