PM Kobakhidze claims “significant economic growth”, “poverty reduction” in Georgia

Georgia’s Prime Minister Irakli Kobakhidze on Monday reported “notable achievements” in Georgia’s economic performance and poverty reduction at a recent government meeting. According to the National Statistics Service, the country experienced an “impressive economic growth rate of 11.8 percent in April”, he said. 

Kobakhidze emphasized that the average economic growth from January to April was nine percent, “significantly surpassing” the International Monetary Fund’s initial annual forecast of 4.8 percent. He expressed confidence that the country’s economic growth would continue in the coming months of 2024. “Economic growth translates to job creation, a reduction in unemployment, and overall national progress. We must continue to support this rapid growth with new initiatives,” he said.

The Prime Minister also highlighted updated poverty statistics from Geostat and said in 2023, the poverty rate fell to 11.8 percent, down from 15.6 percent in 2022, marking a decrease of 3.8 percentage points. 

Kobakhidze noted that over 140,000 citizens have risen above the poverty line in the past year and compared this to the situation in 2012, under the previous authorities, when he said the poverty rate was 30 percent, affecting 1.1 million people. 

“Currently, 435,000 citizens live below the poverty line. Under the current government, nearly 700,000 citizens have overcome poverty. Eradicating poverty is one of our main goals, and we are pleased with the consistent progress,” Kobakhidze added. 

The opposition claims the figures did not reflect the reality, accusing the authorities of pushing the population to migrate due to poor economic conditions.