International Monetary Fund forecasts 4.6% economic growth in Georgia in 2019
An IMF team led by Mercedes Vera-Martin visited Tbilisi during 20-26 February 2019. Photo: Nino Alavidze/Agenda.ge.
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Economic growth in Georgia is projected to reach 4.6% in 2019, says the International Monetary Fund.
An IMF team led by Mercedes Vera-Martin visited Tbilisi during 20-26 February 2019 to discuss recent economic and financial developments and progress with structural reforms.
At the end of the visit, Vera-Martin issued a statement in which she said that significant infrastructure investment is expected to compensate for weaker external demand and slower credit growth in Georgia.
Scaling up infrastructure expenditure will need to be accompanied by improved project selection and management. The current account deficit is projected at around 8% of GDP, owing to still robust growth in exports and remittances” said Vera-Martin.
Risks to the outlook are mainly on the downside, including weaker trading partner growth, global trade tensions, and a sharper-than-projected credit slowdown. This calls for continued prudent macroeconomic policies, exchange rate flexibility and a buildup of reserves”, she added.
An IMF team commended the Georgian authorities for advancing structural reforms and stressed the need for continued efforts to promote inclusive growth and higher economic resilience to external shocks.
An IMF team will visit Georgia for the fourth review of Georgia’s IMF-supported program in April-May.
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).
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).
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 Georgian economy will grow by 5% in 2019 and by 4.9% in 2020 with higher investment spending, says Asian Development Bank’s flagship economic publication. Inflation is projected to accelerate to 3.2% in 2019 before slowing to 3% in 2020.
The World Bank forecasts 4.6% economic growth in Georgia in 2019, 4.8% in 2020 and 5% in 2021, shows the Europe and Central Asia Economic Update of the World Bank.
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.
The Managing Director of the International Monetary Fund Christine Lagarde will pay a working visit to Georgia on May 19-21. During her visit Lagarde will also meet with President Salome Zurabishvili and President of the National Bank Koba Gvenetadze.
Advice from IMF managing director to Georgian policymakers
Georgia is hosting Christine Lagarde, Managing Director of the International Monetary Fund (IMF), who is paying her first visit to the country on May 19-20, planning to meet local authorities.