28 January 2022,   15:58
more
GDP per citizen will exceed USD 5,500, which is a historical maximum – Irakli Garibashvili

The total value of the country’s economy next year will reach 65 billion GEL, meaning that GDP per citizen will exceed 5,500 USD, which is a historical maximum, Georgian Prime Minister stated during today’s Cabinet meeting.

According to the Prime Minister, despite the pandemic, capital costs are not reduced in the 2022 draft budget.

“This year saw a significant economic growth. According to our projections, our economic growth will reach double digits by the end of the year to enable us to increase the budget by 1 billion 310 million GEL compared to the budget version initially approved this year. In addition, we have succeeded in reducing the debt from 60% of GDP, the country’s external debt, to 51.1% in 2022. The combined budget will be 21.8 billion GEL. In 2022, we plan to achieve a 6% economic growth. The total value of the country’s economy next year will reach 65 billion GEL, meaning that GDP per citizen will exceed 5,500 USD, which is a historical maximum. Next year, we will continue reducing the debt, which has grown due to the pandemic, and the budget deficit, which will make up 4.2%, with the government debt constituting 51.1% in 2022. Despite the pandemic, capital costs are not reduced in the 2022 draft budget, to make up 5.9 billion GEL, that is, 9.1% of GDP”, - said Irakli Garibashvili.

MORE HEADLINES