The Government would focus on fostering rapid economic growth and strengthening economic ties with the European Union, said the candidate for the post of the Finance Minister of Georgia, at the joint sitting of the Parliamentary committees

Lasha Khutsishvili underlined the objective of preparing Georgia for EU membership - following the granting of the membership status to it 2023 - as a “key priority” in the medium term, while also pledging the Government’s commitment to reducing poverty, positioning Georgia as a regional hub for logistics and investment.

He also noted Georgia’s “strong” economic performance, particularly in the post-pandemic period, had been marked by “substantial growth” between 2021-2022 and last year’s “successful” 7% growth rate.

“Georgia had managed to fully eliminate the pandemic-induced economic lag and return to a pre-COVID growth trajectory while major economies still suffered its negative effects. The average annual inflation in Georgia was 2.5% in 2023 and a gross domestic product per capita exceeding USD 8,000 by the year’s end. I am sure, Georgia would sustain high economic growth and maintain inflation within target rates in the coming years. Besides, significant progress was made across various sectors, particularly in economic and fiscal domains”, - said Lasha Khutsishvili.

He referenced projections by the International Monetary Fund on Georgia’s per capita income, adjusted for purchasing power, reaching up to 45% of the EU median indicator by 2024 and surpassing the levels of some EU member states at the time of their accession to the bloc.