MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Minister of Economy and Sustainable Development, Natia Turnava held an online meeting with the Head of the International Monetary Fund’s Mission, James John and other members of the Mission to discuss the launching of a new program.

The Minister explained in detail the economic trends in Georgia, the impact of the Covid-pandemic and the Government’s anti-crisis policy, which allowed the country’s economy to develop even faster than expected. According to the preliminary estimates, compared to the previous year, the real growth of the economy in September of this year was 6,9%, and the 9-month growth rate was 11,0%t. According to Natia Turnava, under the current trends in the economy, Georgian Government expects that 2021 will be finished with a double-digit economic growth. The Minister also cited the assessment of the International Monetary Fund, according to which in 2021-2026 Georgia will have the highest economic growth among the regional and European countries.

During the meeting, prospects of economic recovery of the country were under the focus. Talks concentrated on the steps taken and planned to improve the investment environment, current and future reforms in the energy sector.

The parties also reviewed the progress in terms of implementation of structural economic reforms and the action plan, in particular, the ongoing activities for the development of the capital market, the prospects for the implementation of the reform of state-owned enterprises and others.

Deputy Ministers Davit Tvalabeishvili and Irakli Nadareishvili, Head of the Economic Analysis and Reforms Department of the Ministry Vakhtang Tsintsadze, as well as the IMF Resident Representative in Georgia Selim Cakir also participates in the meeting.