Tbilisi: Levan Davitshvili, Georgia’s first Deputy Prime Minister and Minister of Economy and Sustainable Development reiterated commitment of retaining 9.7% economic growth.
He was speaking on the occasion of a conference organized by the Business Association of Georgia. The conference’s main topic was “How to Maintain the High Tempo of Economic Growth.”
According to the Minister “Our common task is to maintain the current 9.7% economic growth because the good things that we all want to have in the country are directly related to economic progress.”
It is worth noting that the conference was opened by Prime Minister of Georgia Irakli Kobakhidze, who delivered a welcome speech. Representatives of the government economic team and the business sector participated in the event. A panel discussion was held at the event and the Minister of Economy was one of the main speaker.
Levan Davitashvili also discussed the importance of direct communication with businesses in developing the country’s economy during his speech. As he noted it is always very beneficial to dialogue with business houses to keep government economic policy decisions in sync while understanding the needs of the businesses.
In addition to his dedicated speech the minister spoke in detail during the panel discussion about the key economic policy highlights, current economic growth trends and the important steps to improve its competitiveness. He said at a panel discussion that “As far as maintaining economic progress we have a very transparent economic policy.”
In the coming years we will have high capital expenditure on our whole domestic product, we will keep one of the highest capital expenditure mark at 8%, this is one of the sources of economic growth and will be one of the tools of our short-term economic growth.”
He also underscored the importance of directing capital expenditures toward improving the economy’s competitiveness. This strategic focus, coupled with recent economic growth and low inflation, indicates that our economy is showing signs of structural improvement and increased productivity, fostering optimism about our economic future.
