2016-11-25
Mr. Giorgi Kvirikashvili, Acting Prime Minister of Georgia responded to the question posed by the United National Movement (UNM) Member of Parliament (MP) on the indicators of the International Monetary Fund (IMF) and economic position of the country.
In the opinion of Mr. Kvirikashvili, current economic growth of the country is commensurate with the existing situation in the region.
"Economic growth that we have achieved is commensurate with the current position of the region. IMF is more conservative in its assumptions and projections. We were budgeting with a 4% economic growth projection, but the actual growth may be higher than originally anticipated. This is said in relation with the pipeline of infrastructure projects. We did not pledge to refrain from increasing the external debt. We did commit to have a healthy correlation of public debt to the gross domestic product (GDP) so that the sovereign credit rating would not deteriorate" noted Mr. Kvirikashvili.
Acting Prime Minister also explained intentions of the Government towards privatization and noted that authorities have refused to the cheap transfer of state assets as investment prospects of the region were not favorable.
"As for the plan announced last year, we did our best within our capacity and with the tools in our disposal to maintain the stability, which goes beyond the currency exchange. Fiscal stability has been kept to a larger extent in the country. As for the plans, we need to say that we did not transfer state assets for prices below the line. We can easily generate same or higher sales proceeds today or tomorrow, as conditions were not quite acceptable in the past" noted the Acting Prime Minister.
According to him, infrastructure projects reflected in the Action Plan of the Government are absolutely realistic.
"Nothing unrealistic may be found in the infrastructure projects and in the coming term we will have to spend more on infrastructure and incur less administrative cost. We will need to streamline and this is the reality we are responsible for!" added Mr. Kvirikashvili.