PM Garibashvili: unlike Georgia, Europe faces economic recession

For the second year already, as a result of the government’s correct policy, we have a double-digit economic growth, we must do everything to maintain this trend, Prime Minister of Georgia Irakli Garibashvili told journalists on Tuesday. 

He noted that in the European Union, “which is one of the main economies in the world, the average rate of inflation is about 11%”.

“Inflation is a challenge for the whole world. It was caused firstly by the pandemic, then there was a strict lockdown almost all over the world, then the war in Ukraine. A few days ago, the inflation rate of the entire Eurozone was published – the average rate is already double-digit inflation -11% , if I am not mistaken. It happens In the European Union, which is one of the main markets, the main economy in the world”, said Garibashvili. 

He stressed that In some countries, inflation has exceeded 20%-25%.

“Unlike this, We have double-digit economic growth, which balances ongoing challenges”, said the PM.