The Prime Minister of Georgia presented an overview of the statistical data and economic growth indicators released by the National Statistics Office (GeoStat) at the Executive Government Meeting today.

As noted by Irakli Kobakhize, economic growth reached a very high rate at 11.8% in April according to the data released by the National Statistics Office. Average indicator for January-April was 9%.

“This result significantly exceeds the preliminary projection of the International Monetary Fund. Annual economic growth was originally forecasted at 4.8%. It has been greatly exceeded by the actual average economic growth in the first 4 months of the year and I am confident that the trend will be maintained to the end of the year. We will sustain high economic growth in the coming months of 2024. Economic growth is translated into job creation, reduction of unemployment and poverty levels, advancement of the country in every direction and thus everything should be done to further support the quick economic growth in our country with new initiatives by giving the new momentum of growth. It is utterly important!”, - said Prime Minister.

He also commented on the updated indicators of poverty released by the GeoStat, according to which 11.8% of the population lived beyond the poverty threshold in 2023, thus being 3.8% lower than that of 2022.

“We have a very significant advancement in this area as well. Poverty level in 2022 was 15.6%. It means that over 140 000 citizens succeeded in overcoming poverty last year. Back in 2012 it was 30%, i.e. over 1.1 million people were below the poverty threshold, while only 435 000 are in that area nowadays. It means that almost 700 000 citizens have managed to overcome poverty under the current rule. It is a very good indicator. We have a high economic growth rate this year again and dozens of thousands will succeed in overcoming poverty in the given circumstances. It is one of our prime goals to bring the poverty level to zero and we are thrilled that we have made consistent progress towards this end”, - said Irakli Kobakhidze.