The Head of Government of Georgia spoke today about the Adjusted Draft Budget submitted to the Parliament of Georgia, thereby noting that economic growth will manifest itself in a double digit indicator this year according to the assumptions made by the central authorities of the country.
“We submitted an Adjusted Draft Budget to the Parliament of Georgia. It is an updated version of the annual budget law, though we will continue our intensive work in November by engaging the line ministries, government agencies and public institutions to submit the very final draft by the end of the month. Meanwhile, we will be cooperating with the Parliament of Georgia and MPs in an active manner to agree on the final draft.
We have very strong economic growth. Its indicator in the first 9 months of the year has reached 11.3%. Real economic growth projection has also been revisited and we assume that this year will be completed with a double-digit economic growth indicator. Considering the increased projections, nominal GDP forecast has also been rising and instead of 58.4 BLN GEL projected in Q1 of 2021, the updated draft reflects 58.7 BLN GEL. Real economic growth projection for 2022 is 6% on the grounds of the macroeconomic indicators of the country, while the nominal GDP will reach 65 BLN GEL in 2022, which means that GDP per capita will exceed 5500 USD”, - explained Irakli Garibashvili.