Georgian economy grows 11.2% in January-May

Baku, July 5, AZERTAC

The Georgian economy grew by 11.6 percent in May and by 11.2 percent in the first five months of 2022 year-on-year, the latest data from the National Statistics Office of Georgia show, according to Agenda.ge.

The Office said last month the estimated real growth had been identified in “almost all sectors” compared to the same period of the previous year, while “significant contributions” to the real gross domestic product growth were observed in the following activities:

Transportation and storage, Electricity, gas, steam and air conditioning supply, Hotels and restaurants, Manufacturing

Construction, Mining and quarrying.

The World Bank projected the Georgian economy to grow 5.5 percent in 2022 and next year, followed by a five percent growth in 2024.