Prime Minister Irakli Gharibashvili Leads Economic Council Session: Positive Trends and Major Projects Discussed
By Liza Mchedlidze
Wednesday, August 16, 2023
Under the leadership of the Prime Minister of Georgia, Irakli Gharibashvili, the Economic Council convened for a session.
According to the press office of the Prime Minister of Georgia, the meeting held at the government administration focused on reviewing the positive trends within the country's economy.
As indicated by their reports, discussions encompassed topics such as the low level of inflation and the trajectory of budget execution.
Minister of Finance, Lasha Khutsishvili, highlighted that the annual inflation of consumer prices stood at 0.3 percent for July, and the budget surpassed expectations based on the indicators for the first six months of 2023.
During the session, the Prime Minister received updates on the advancement of infrastructure projects across various regions.
Minister of Regional Development and Infrastructure, Irakli Karseladze, pointed out that the Ministry outperformed the state budget for the initial six months of 2023, exceeding it by 13.5% or 1,331.1 million GEL. Ongoing work involves the construction of 203 km of highways, with stages of completion planned between 2023 and 2024. Additionally, up to 1800 km of internal state and local roads are undergoing rehabilitation. Notable water supply and drainage initiatives worth over 3 billion GEL are in progress across 167 locations. The development of sports infrastructure includes active construction of sports complexes and multi-purpose sports halls in various regions like Akhaltsikhe, Zugdidi, Arkhiloskalo village, Bolnisi, and Tsnori. The construction of the Rustavi sports complex is also nearing completion.
In accordance with a decision by the Prime Minister, a total of 130 new kindergartens are planned under the construction-rehabilitation program for kindergartens, with agreements signed and tender announcements ongoing.
The session covered discussions about the significant project involving the construction and rehabilitation of 800 schools, valued at a billion GEL. This project, also initiated by the Prime Minister, encompasses the construction of 80 new schools and the rehabilitation of 200 existing schools in its first phase.
Vice Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili, reported that the revenue generated from travel in the first and second quarters of 2023 surpassed figures from 2019. This period registered a remarkable record figure of $1,804,529,935 USD, which equates to 123.9% recovery compared to 2019's equivalent figure. Travel revenue experienced a 57.9% increase compared to 2022. In total, international travel contributed $1.8 billion in income to Georgia as of the first half of 2023. Discussions also revolved around the potential addition of new air routes and enhanced flight frequency with China, recognizing the significance of such steps for tourism and the aviation sector's growth.
During the meeting, deliberations encompassed the progress of significant economic projects and the strategic steps to be pursued in this realm moving forward.
