Georgia boosts GDP 7.6% in H1 2023 - national statistics service

TBILISI. July 31 (Interfax) - Georgia boosted GDP 7.6% in January-June 2023, the National Statistics Service (Gruzstat) reported.

GDP rose by 7.7% in June.

According to Gruzstat, the construction, retail, finance, and insurance industries, respectively, contributed substantially to GDP growth, while the transport, warehousing, electricity, and air conditioning sectors were on a downward trend.

As reported, Georgia's GDP grew 10.1% in 2022, and 10.5% in the first half of last year.

The country's budget for 2023 includes a forecast for economic growth of 5%. The International Monetary Fund and the European Bank for Reconstruction and Development, respectively, also expect Georgia's GDP to increase 5% this year.