IMF Fully Supports Georgia’s Economic and Structural Reforms

IMF Fully Supports Georgia’s Economic and Structural Reforms

The FINANCIAL -- The International Monetary Fund welcomes the economic policy of the Government of Georgia aimed at maintaining macroeconomic stability and promoting economic growth.

This position is once again confirmed in a second review report on the IMF’s current program, approved by the Board of Executive Directors on June 27, 2018.

According to the IMF mission, all quantitative criteria envisaged by the program are fulfilled, most of which are significantly improved as well.

In the review, the IMF focuses on the country’s economic development - economic growth was high, inflation deteriorated, fiscal and foreign economic parameters improved, the state debt decreased. Significant progress was recorded in terms of implementing structural reforms. Besides, possible risks that might have the influence on the economy of Georgia are balanced as well.

The IMF estimates that significant improvements are recorded in terms of high and inclusive growth, ensuring sustainability of the economy and improving education, infrastructure and competitiveness.