IMF moves economic forecast for Georgia up to 4.5% in 2018
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The International Monetary Fund (IMF) is moving its forecast up, saying the Georgian economy will grow by 4.5 percent in 2018 and 4.8 percent in 2019.
"According to the International Monetary Fund forecasts, Georgia will have one of the highest growth rates in economy among the countries of Eastern Europe and Central Asia in 2018-2023”, read the press release published by Georgia’s Ministry of Economy today.
"Growth in 2018 is expected to remain strong, with risks to the outlook balanced. The current account deficit is expected to widen slightly due to higher oil prices and public investment. Over the medium term, the sustained implementation of Georgia’s economic reform program is expected to support higher and more inclusive growth by fostering private investment, productivity, and competitiveness”.
In its end-of-mission press releases, which the IMF published last week to announce the results of the 2018 mission, the IMF said that growth in Georgia will remain strong in 2018, and is expected to accelerate over the medium term, supported by structural reforms and infrastructure projects.
The International Monetary Fund has completed the second review on the Extended Fund Facility approved last year under which Georgia is receiving $285.3 million over a period of three years.
A delegation from the International Monetary Fund (IMF) is visiting Georgia to discuss the country’s economic outlook with local officials. During the visit the IMF mission will meet Georgian authorities as well as representatives from the private sector.
Georgia’s economic recovery is gaining momentum, inflation is projected to decline starting in early 2018, and the external position has strengthened, says the First Review of the Extended Arrangement under the Extended Fund Facility for Georgia completed by the International Monetary Fund (IMF) Executive Board.
"Georgia is thriving”, says the International Monetary Fund (IMF) in its latest article about Georgia, which speaks about the country’s recent economic development based on interviews with Georgia’s Economy Minister Dimitry Kumsishvili and National Bank of Georgia Governor Koba Gvenetadze.
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.
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.
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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.
“Georgian economy is showing strong signs of recovery, supported by prudent macroeconomic policies,” Managing Director of the International Monetary Fund Christine Lagarde stated following a meeting with Prime Minister of Georgia Mamuka Bakhtadze in Washington D.C yesterday.
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.