IMF report: ‘Georgia a notable exception for business entry rates in CCA region’
IMF report says that by 2023, Georgia has the opportunity to reach the development level of eastern and central European countries. Photo: N. Alavidze/Agenda.ge.
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Business entry rates in the Caucasus and Central Asia region are much lower than in other regions, including sub-Saharan Africa, but Georgia is a notable exception, says the report of the International Monetary Fund (IMF).
IMF says that the success of structural reforms, including those implemented in the early 2000s and in recent years, have resulted in continuously higher rates of new business entries in Georgia.
Also, the report says that private investment is also higher in Georgia than the regional average.
To note, Georgia has moved up again in the Doing Business Ranking of the World Bank to 6th place from 9th place last year.
Another data set from the National Statistics Office of Georgia showed that 4,071 enterprises were registered in Georgia in September 2018 alone.
IMF report says that by 2023, Georgia has the opportunity to reach the development level of eastern and central European countries.
The International Monetary Fund has completed the third review on the Extended Fund Facility approved last year under which Georgia is receiving $285.3 million over a period of three years.
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An International Monetary Fund (IMF) team, led by Mercedes Vera-Martin, has concluded its visit to Georgia, which was held during August 21-27 to discuss recent economic and financial developments and progress with structural reforms.
The International Monetary Fund (IMF) expects economic activity to remain strong in Georgia, supported by a favourable global environment and the firm implementation of programme policies.
The International Monetary Fund (IMF) will team up with Georgia’s Ministry of Economy to create a credit guarantee fund for Georgia. The meeting was held yesterday during the Georgian governmental delegation’s visit to the US.
Georgia’s economic performance remains strong, but downside risks to the outlook have increased, reads the third review of the International Monetary Fund (IMF) of Georgia’s performance under the 3-year Extended Fund Facility (EFF).
Economic growth in Georgia is projected to reach 4.6% in 2019, says the International Monetary Fund.
Georgia will get about $40 million from the International Monetary Fund (IMF) after the fourth review of the Extended Fund Facility (EFF) programme is finalised.