MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

"Talking about the economic growth trends, it should be noted that our common goal is to maintain the current rate of economic growth of 9,7%, because the good things that we all want to have in the country are directly related to the economic progress," – the First Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili stated at the conference –  "Maintaining High Rate of Economic Growth.

The Prime Minister of Georgia, Irakli Kobakhidze, opened the conference, organized by the Georgian Business Association, with a welcoming speech. Representatives of the government's economic team and business sector participated in the event. The First Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili was one of the main speakers of the panel discussion. 

Levan Davitashvili spoke about the importance of direct communication with business in the process of economic development of the country. He mentioned that it is always very useful to have a dialogue with the business so that the decisions related to the government's economic policy are synchronized and consider the needs of the business. Davitashvili also noted that the dialogue was particularly productive during the recent years, which was also reflected in the economic outcomes. In addition, during the panel discussion, the Minister of Economy spoke in detail about the main emphases of the economic policy, the current trends of the economic growth and the scheduled steps towards improving the country’s economic competitiveness.

"As for maintaining the economic progress, we have a very transparent economic policy. In the coming years, we will have high capital expenditures relative to our gross domestic product, maintaining one of the highest capital expenditure rates of 8%, which is one of the sources of economic growth and will be one of our short-term economic growth instruments. In this regard, it is of utmost importance that capital expenditures are aimed at improving the competitiveness of the economy. We have seen what was the reason of the economic growth in the recent period, we have high economic growth and low inflation, and these are the very signs of structural improvement and productivity increase of our economy," – Levan Davitashvili noted.

The Minister also spoke about the measures aimed at maintaining the current dynamics of economic growth. According to his information, the main focus will be directed towards the structural improvement of the economy - the structure of the economy should be more competitive and oriented towards further growth.

"At the same time, of course, in the longer-run, we will focus on productivity growth, technologies, innovations, as well as infrastructure projects," – Levan Davitashvili said.