2017-10-09
The International Monetary Fund ups the 2017 economic growth forecast to 4.3% and commends the Georgian Government's economic program as impressive, Head of IMF's Mission Mercedes Vera-Martin stated at today's meeting with Georgian Prime Minister Giorgi Kvirikashvili.
According to her, implementing the planned reforms will ensure a high and inclusive growth in Georgia's economy, which will in turn contribute to the growth of private investments, production, and export competitiveness.
The Head of the IMF Mission thanked the Prime Minister of Georgia and the Government's economic team for constructive cooperation, pointing out that the numerical criteria under the IMF's program, for the most part, have been exceeded significantly.
According to IMF's assessment, the faster economic growth than expected stems from Georgia's prudent policy, the large numbers of trade partners, export, tourism, and investments.
The International Monetary Fund Mission also assesses as impressive the country's fiscal statistics and confirms that the program supported by it has been successful, as the incomes exceeded the forecast, while the expenses are as planned. According to IMF, the high revenues, with the expenses kept at the current level, will be used to finance more capital projects and to refund overpaid VAT.
During the meeting with the Prime Minister, the country's financial reforms were singled out and the progress in structural reforms was commended.
The Prime Minister thanked IMF for supporting Georgia's development and reaffirmed commitment to continuing active cooperation with the fund.