Georgian Finance Minister, World Bank head discuss economic questions, cooperation
In the comments for the meeting, Khutsishvili said the World Bank had played an “important role” for the “development, growth and modernisation” of Georgia's economy. Photo: Finance Ministry
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Economic questions and cooperation between the World Bank and Georgia were discussed on Wednesday between the Georgian Finance Minister Lasha Khutsishvili and Koen Davidse, the Executive Director of the World Bank.
The Ministry said the meeting also covered the “current macroeconomic parameters” and planned domestic reforms, progress of infrastructure projects of international importance as well as challenges in the world and Black Sea region in the wake of Russia’s invasion of Ukraine.
In the comments for the meeting, Khutsishvili said the World Bank had played an “important role” for the “development, growth and modernisation” of Georgia's economy.
The meeting also emphasised Georgia’s accession to the International Development Association as a donor country in September as “another important stage” of the partnership.
The parties also pointed out the importance of ongoing projects supported by the World Bank for the sustainable development of the country.
The Georgian economy’s 2022 growth is projected to be at 10 percent in the final tallying of numbers for the past year, with a "much stronger” domestic economic activity observed compared with expectations in the aftermath of Russia’s invasion of Ukraine, the January report of the World Bank Global Economic Prospects has said.
The Georgian economy is forecast to grow 5.2 percent in 2023 and 4.6 percent in 2024, the World Economic Situation and Prospects report by the United Nations said on Thursday.
Dynamics of trade between Georgia and the United States and economic ties between the two countries were discussed on Tuesday between the Georgian Finance Minister Lasha Khutsishvili and Matthew S. Axelrod, the Assistant Secretary for Export Enforcement of the US Department of Commerce.
The Georgian economy is projected to grow 5.5 percent in 2022 and next year, followed by a 5 percent growth in 2024, the June edition of the World Bank’s Global Economic Prospects report has said.
The cooperation between Georgia and the World Bank, as well as projects implemented both in public and private sectors of the country with the latter’s support were discussed on Wednesday between the Georgian Finance Minister Lasha Khutsishvili and Antonella Bassani, the Vice President of the World Bank for the Europe and Central Asia.
Georgian Economy Minister Levan Davitashvili and Thea Roseman Candler, the United States Assistant Secretary of Commerce for export control on Wednesday discussed trade and economic relations between the two countries.
Economic questions and cooperation between Georgia and the International Monetary Fund were discussed on Thursday between Lasha Khutsishvili, the Georgian Finance Minister and Vitor Gaspar, the Director of the Fiscal Affairs Department of the IMF.
The progress of the reforms implemented in Georgia with the International Monetary Fund’s support, as well as the current economic situation in the country, was reviewed on Thursday by the Georgian Finance Minister Lasha Khutsishvili and James John, the Deputy Chief of the IMF.