In March, economic growth stood at 9%, with the overall figure for Q1 reaching 9.3%. During the first quarter, tax revenue targets were exceeded by 120 million GEL, which is a direct result of economic growth, stated the Prime Minister of Georgia at the Executive Government Meeting.

Irakli Kobakhidze thanked the economic team for the results achieved and emphasized that efforts will continue to further accelerate economic growth.

He also addressed the positive trends in the tourism sector. According to him, spending by international visitors in Q1 of this year increased by 8.3% compared to the same period last year.

"Our political opponents predicted an economic crisis in Georgia and attempted to create a perception among the public that the country was heading toward such a crisis. I`d like to recall one of their representatives` comments from January 17, claiming that within three months the GEL/USD exchange rate would reach approximately 3.1. More than three months have now passed and the rate is around 2.75. This same former politician-now self-proclaimed expert-also forecasted a 2% economic decline for the year, yet in Q1 alone we have recorded 9.3% growth. He also predicted inflation would exceed 6%, but inflation remains within an optimal range. There were claims that the tax revenue plan would not be fulfilled, but in fact, it was exceeded by over 120 million GEL in Q1", - said Irakli Kobakhidze.