Minister of Finance: The economy is recovering at a faster pace than we expected

The economy is recovering at a faster pace than we expected, said the Minister of Finance of Georgia Lasha Khutsishvili at the end of the Government session.

As Khutsishvili explains, expectations are much higher than 6% economic growth.

"The economic growth of 11.6% was observed in May, the economic growth of 5 months amounts to 11.2%, which is a significantly increased indicator compared to the positive expectations that we had.

You know that this year we are projected to have 6% economic growth. This prediction was made in conditions when there was not yet the current geopolitical in the region, namely Russia's invasion of Ukraine. Naturally, this changed our plans, however, according to the data of the first five months, the pace of economic recovery is faster than we had predicted at the end of last year, at the beginning of this year. In this direction, we may revise our predictions when we have a draft of changes in the current year's budget. This will probably be the month of September. We monitor the pace of economic development by sector. Expectations are much higher than 6% economic growth. At the end of August, we will have a corresponding prediction for the current year," Khutsishvili notes.