Economic growth up in 2012

Foreign direct investment (FDI) inflow has approached almost one billion USD, announced Georgian Prime Minister Nika Gilauri on Tuesday.

Speaking at a government meeting, the Prime Minister also emphasized the country's 5% economic growth as of January 2012, which according to him is a very positive figure for the beginning of the year.

“Taking into consideration the reality in terms of economic growth in the world and among our neighbor states, the figure is very positive,” Gilauri said.

According to him, a meeting with private sector representatives last week revealed that economic growth has been largely fueled by private business expansion.

“The proposals presented by the private sector are very positive. We will continue working [on] additional amendments to the tax code and other laws in order to simplify business in Georgia [and] to attract more investments and create more jobs,” he concluded.