Georgia’s PM highlights 9.7% economic growth, unveils housing project for military personnel

Prime Minister Irakli Kobakhidze on Monday announced that Georgia’s economic growth over the first seven months of the year reached 9.7%, marking the “highest rate among European countries in the region”. He made the statement during a government meeting, emphasizing the importance of “maintaining this momentum”.

Kobakhidze noted that Georgia experienced 13% economic growth in July alone, contributing to the “impressive average growth for the year”. He stressed that sustaining high growth rates was “crucial” for reducing unemployment and alleviating poverty, which would “ultimately improve the overall quality of life for Georgians”.

“We had an economic growth of 13% in July, bringing the seven-month average to 9.7%. This is the highest rate in the region, and our primary focus is on maintaining this pace. It’s the best way to reduce unemployment and tackle poverty, which will gradually enhance the well-being of our citizens,” he said.

The PM also announced the launch of a large-scale housing project for military personnel, which is set to provide apartments for 1,200 servicemembers. As part of the initiative, 43 buildings will be constructed, and military personnel will be offered apartments at a highly subsidized rate of $100 per square meter. The cost will be covered through interest-free installment plans.

“This project is an expression of our utmost respect for the military. Apartments ranging from 50 to 100 square meters will be allocated based on need, and the initiative will continue in the future under the new defense code. This will not only improve the living conditions for servicemen and their families but also strengthen the motivation of those serving in the military,” Kobakhidze explained.

He also highlighted the broader impact on strengthening the Georgian army, which he claimed “remains a key priority” for the government.