On May 30, 2012 was held the meeting of the Georgian Government. The agenda included 60 items.
Prior to the beginning of the session the Prime-Minister of Georgia spoke about macroeconomic parameters. Below is the speech of the Prime-Minister:
"Prior to the beginning of the session of the government, I would like to present some information to the public and the members of the government. In this case I mean macroeconomic parameters. Inflation of May is still a positive figure, i.e. in May the level of prices reduced compared to April, the same as in May of the current year compared to May of the last year. Deflation in respect of May of last year was 3.3%.
You remember well that May of last year was one of the most inflationary months, during the last year the inflation was higher than 14%. This effect finds its result this year and accordingly, the level of prices is comparatively reduced compared to prices of May of last year. I would like to emphasize once more that the reason for this was the increase of prices at international market. Now for the same reason the prices reduced in Georgia as at international markets prices on food are reduced and it is reflected at our internal macroeconomic situation, in macroeconomic parameters.
Besides, I would like to make an important comment with regard to the data of direct investments of the first quarter. According to the preliminary data of the department of statistics USD 230 million was invested in Georgia in the form of direct investment in the first quarter, which exceeds by 32% the first quarter of the last year. In the first quarter of the last year total of USD 174 million was invested. This year the figure is USD 230 million, which is a very good growth. This figure is proportionally connected with creation of work places, i.e. direct investments -is the amount which comes to Georgia from abroad, new enterprises are established here or old ones are rehabilitated, new work places are created and unemployment is reduced. That is why the growth of this figure is so important. According to the last year data, we had direct investments of USD 1 million. The first quarter is the lowest indicator, and then due to seasonal prevalence this indicator increases. Accordingly this year we expect that the indicator will be increasing each week and the direct investment of this year will make more than USD 1 billion".
Prime Minister's Press Service