Georgian Prime Minister Irakli Garibashvili elaborated on the 7% economic growth and revived trade at the Cabinet meeting on Tuesday.

The PM reported that over 1,2 million international tourists visited Georgia in 2023, making the 110% increase year-on-year.

Garibashvili also highlighted the tendency of the price drop on food products, bread and fuel.

Furthermore, the Prime Minister stressed the government’s target was to keep the inflation rate at 5 % this year.

Irakli Garibashvili went on to say that the government would launch a large-scale program for the development of cities and resorts, saying eleven locations were selected where cultural and historic buildings would be restored and recreation spaces arranged.

The Prime Minister also announced the Ministry of Economy would soon “disclose” more detailed information about when the government would launch the construction of the Anaklia deep-water port.

Irakli Garibashvili added that the government would also present new airport projects soon.