Ekaterine Mikabadze: Implemented economic policy, systemic and structural reforms help to maintain economic resilience

According to the preliminary assessment by the GeoStat, in June of 2019, compared to the same period of the previous year, high economic growth of 5,0% was recorded, while the average growth in January-June 2019 equals to 4,9%. Ekaterine Mikabadze, Deputy Minister of Economy and Sustainable Development, stated that the improvement of economic growth was preconditioned by the improvement of foreign trade deficit. The Deputy Minister noted that the deficit was reduced by 90 million USD, which had a positive impact on the balance.

Deputy Minister also focused on the statistics considering the trade of services. Mikabadze said that the tourism revenues were increased by 4,5% in June and there also was a positive trend regarding the net money transfers.

Ekaterine Mikabadze highlighted that the real economic growth in June was recorded in such sectors as real estate, construction, transport, trade, manufacturing, hotels and restaurants, etc.

“As the 6-month data shows, Georgia’s economy is developing steadily and sustainably. However, the developments in late June unfortunately generate negative background and lead to negative expectations in the economy. As a result, the Government’s efforts are aimed at neutralizing negative impacts and minimizing the possible damage to the economy via overcoming the adverse effects. Ongoing economic policies, systemic and structural reforms contribute to maintaining economic resilience to foreign and domestic fluctuations,” – the Deputy Minister of Economy and Sustainable Development, Ekaterine Mikabadze noted.

Ministry of Economy and Sustainable Development of Georgia. 2017 ©