On May 24, 2011 was held the meeting of the Georgian Government. The agenda included 76 items.
Before the meeting started the Prime Minister of Georgia, Nika Gilauri, talked about the macroeconomic data.
We present the Prime Minister's speech:
„Good day. Before we proceed to the agenda issues I would like to introduce to the public and the government members several macroeconomic data of the first three-four months of 2011.
First of all, the preliminary figures of the Gross Domestic Product show 6% rise. This rate is one of the highest in the region today. In the first quarter the economy of Georgia has increased by 6%. These are preliminary data, we have no final figure yet. The Department of Statistics shall have final figures within next month. We shall certainly inform the public of the final figures which will be available to us in the nearest future.
As for international trade, here we have also most positive changes and rise. Within first four months export has grown by 40%. Today it is one of the highest rates in the region.
Good point is that the quantity of exported products has increased, the range of exported products and the geographic area have widened. Today the products produced in Georgia are being exported to more and more countries. It is most significant that Georgian products conquer new markets.
The data related to inflation are one of the most important issues for the public today. We don't have May figures yet. The monthly inflation rates of March and April were zero, that is in comparison with the previous year increase is 0%. Though the annual inflation, 12-month annual inflation, is still high, the figure exceeds 13%, which is not good for the time being. As predicted, in May-June-July this figure shall reduce and by September the annual inflation shall amount to less than 10%. It will be 8-9% presumably. We do this as a result of analysis of those data which are available to us and which are observed today at international markets in relation to the products prices.
I would like to mention unemployment figures as well. We have already the final confirmed figures related to unemployment of 2010-11. Good point is that in 2010 the unemployment figures have reduced for the first time for the last years. As you know it kept increasing each year. There is a slight but still positive change. Unemployment has reduced from 16,9% to 16,3%. That is if in 2009 unemployment figures amounted to 16,9%, in 2010 these figures are 16,3%. They have reduced by 0,6%, which is not breakthrough but it is a positive trend. We assume that this trend will go on in future as well".
Prime Minister's Press Service