EBRD vice-president praises Georgia’s economic development

The first vice-president of the European Bank for Reconstruction and Development (EBRD) Jurgen Rigterink praised Georgia’s recent progress and the country’s economic growth at today’s meeting with the Prime Minister of Georgia Giorgi Gakharia, announces the Government of Georgia.

While talking about Georgia’s progress, Rigterink accented the measures taken to stabilise the Georgian lari, positive developments in the current account deficit and economic growth rates in Georgia.

Progress that Georgia made in 2019 is impressive. Economic growth rate is very good that was reflected in the increased investments of EBRD in Georgia last year – about €300 million was invested”, said Rigterink.

Rigterink said that 2020 will be challenging for Georgia not only because of the elections in the third quarter but also due to coronavirus impact.

[Coronavirus] is a challenge for all the countries. We have discussed the possible impact of coronavirus with the prime minister. It will affect the whole region and the growth of GDP, especially in a country where tourism plays an important role”, he said.

Rigterink and Gakharia also spoke about the recent projects in the field of energy, including construction of power lines.