Prime Minister Irakli Gharibashvili Leads Economic Council Session at Government Administration
By Liza Mchedlidze
Thursday, September 14, 2023
Under the leadership of Prime Minister Irakli Gharibashvili, the Economic Council held a session at the government administration. According to the government, council members reviewed positive economic trends in the country.
According to their reports, a record increase in foreign investments was noted in the country. Specifically, the volume of direct foreign investments in Georgia in the second quarter of 2023 reached $505.7 million, marking a 29.9 percent increase compared to the adjusted data for the second quarter of 2022.
"During the meeting, they discussed the foreign trade growth trend. In August 2023, the trade turnover reached $1,766.1 million. From January to August, the trade turnover increased by 16.8 percent, reaching $14,001.1 million. In the same period, exports grew by 14.3 percent, reaching $4,075.5 million. Imports increased by 17.8 percent, totaling $9,925.7 million in January-August 2023.
At the meeting, they discussed current and planned large investment projects in Georgia's transport and logistics sector, including the development of the Anaklia port. Information about the selection of a private partner was also presented.
At the Council meeting, they discussed the ongoing works for the 'Georgian Railway' modernization project. It was noted that upon its completion in 2024, the railway's cargo capacity will double.
The meeting discussed the harvest process. As of September 13, 51,000 tons of grapes have been processed, including 27,000 tons of Rkatsiteli, 20,000 tons of Saperavi, 1.54 thousand tons of Mtsvane Kakhuri grapes, and the rest are various grape varieties. According to information from the Government of Georgia, 5,600 winegrower farmers contributed to the harvest," the statement issued by the Government of Georgia reads.
