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On 19 June 2016, the Prime Minister of Georgia, Giorgi Kvirikashvili, delivered a speech at Ferero Company’s social responsibility strategy presentation. The Prime Minister stated:

“According to the data of the first four months of 2017, real gross domestic products increased by 4.3%, exports rose by 29%, number of tourists increased by 22% whilst the volume of remittances grew by 26%.”

FactCheck

took interest in the accuracy of the statement.

According to the preliminary assessment

of the National Statistics Office of Georgia, in April 2017, real GDP increased by 2.1% as compared to the same period of the previous year. The real average growth rate of the first quarter of 2017 reached 5%, whilst average real growth rate of the first four months of 2017 was 4.2%.

Graph 1:

 Georgia’s Economic Growth Figures (Preliminary Assessment)

image001 Source: National Statistics Office of Georgia   In regard to export of goods, according to the data

of the National Statistics Office of Georgia, in January-April 2017 exports reached USD 788 million, which is 29.7% more as compared to the same period of the previous year. The import of goods has also increased by 12.7% in the first four months of 2017, whilst foreign trade turnover increased by 16.6%. In January-May, the volume of exports of goods is increased by 29%.

According to the border crossing statistics

of the Ministry of Internal Affair’s Information-Analytical Department, in January-April 2017 the number of tourists has increased by 26.9% as compared to the same period of the previous year. In January-May, the number of tourists has increased by 25%.

According to the statistical data of the National Bank of Georgia, in January-April of 2017, the volume of remittances grew by 19.3% as compared to the same period of the previous year. In January-April this year, USD 396 million was transferred to Georgia from abroad, whilst in January-April of 2016 total amount of remittances to Georgia was USD 332 million. In January-May of 2017 the volume of remittances grew by 20.4%.

Conclusion

According to the first four month’s data in 2017, real GDP increased by 4.2%, export rose by 29.7%, the number of tourists increased by 26.9%, whilst the volume of remittances grew by 19.3%.

Therefore, the Prime Minister of Georgia has provided precise figures in regard to GDP real growth and export, whilst his figure in regard to tourism (22%) was bellow the real number and in regard to remittances was higher than the actual amount.

FactCheck concludes that Giorgi Kvirikashvili’s statement is MOSTLY TRUE.