“Economic growth must be more dynamic to move Georgia into the category of middle-income countries”

TBILISI(BPI)- According to a study by the International Monetary Fund (IMF), GDP per capita in Georgia is recorded at  $ 12,227, at nominal – 4,289 and places the country 105th on this indicator among 191 countries.

Otar Zoidze, the head of the Healthcare and Social Issues Committee, believes this is not such a bad indicator but still admits  that accelerating economic growth is required  to include Georgia in the list of middle-income countries.

“Georgia has the highest economic growth in the region that will remain   in the coming year, but this is not enough. Economic growth must be more dynamic to move into the category of middle-income countries.

“What is being done now, and the forecasts give reason for optimism. Given  the external factors and the situation in the region, economic growth of 5% is not high but is still a good indicator, ”the head of the Committee explains.

In the words of the expert Gigi Bedianashvili, the current government’s policy does not practically change GDP from year to year despite  the economic growth observed in the country.

Bedianashvili notes that all this, along with other factors, has deteriorated  the investment climate in the country, and  reduced a volume of foreign investment that directly effects GDP.

“The parliamentary elections are approaching, and most likely, the ruling party will focus on  receiving  the highest  number of votes, and  populism will prevail. All this will hit the country’s  economy so we should not expect that in 2020 the situation will improve and GDP will grow, ”Zurab Bedianashvili concludes.


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