2020-03-05
First Vice-President of the European Bank for Reconstruction and Development (EBRD) deems the recent progress achieved by Georgia to be impressive, while economic growth indicator - positive. It was noted at a meeting of Jürgen Rigterink, First Vice-President of EBRD with Giorgi Gakharia, Prime Minister of Georgia today.
Visiting dignitary underlined the positive trends witnessed towards the exchange rate, current account deficit and economic growth in Georgia.
Discussions at the meeting were concentrated on the current projects implemented in the energy sector, including the construction of power transmission lines. It was noted that effective distribution of power generated from renewable energy sources throughout the country is greatly conditioned by the construction of transmission lines. EBRD is committed to cooperation towards this end. In addition, visiting dignitary also noted that Georgia is a very good partner for EBRD and it will further support the implementation of projects deemed significant for the country.
Head of Government of Georgia and First Vice-President of EBRD touched upon the impact of Coronavirus (COVID-19) on the global economy. Focus was made on the steps that are made by the Government of Georgia towards minimizing the impact of global economic trends on the economy of Georgia as being stemming from the spread of COVID-19.
"We had a very good and constructive meeting with the Prime Minister and Minister of Finance of Georgia, who happens to be the EBRD Governor. Progress achieved by the country in 2019 is quite impressive. Economic growth indicator is very good, which resulted in the increased number of investments from EBRD. Almost 300 million Euros were invested in Georgia.
We actually looked forward and identified many projects for joint investments both in the sovereign and private sectors.
2020 will be a challenge for Georgia, not only because of the election planned in Q3, but for the Coronavirus. It is a challenge for any country. We discussed the potential impact stemming from it. GDP growth of the entire region will be challenged, especially in countries with tourism bearing great significance" noted the First Vice-President of EBRD.
Press Service of the Government Administration