MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Ministers of the economic team of the Government of Georgia met with the head of the mission of the International Monetary Fund, James John, and the members of the mission to discuss the progress of the program, economic indicators of Georgia, current and planned reforms and other priority issues. The meeting was held at the Ministry of Economy and Sustainable Development.

Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili, Minister of Finance Lasha Khutsishvili, International Monetary Fund (IMF) Resident Representative for Georgia, Selim Chakir, Deputy Ministers of Finance - Giorgi Kakauridze and Ekaterine Guntsadze also participated in the summary meeting.

The parties reviewed the current macroeconomic and fiscal parameters of the country. It was noted that, despite the challenges in the region, Georgia maintains significantly high and sustainable growth compared to the initial forecasts.

At the meeting, the performance indicators of the current year’s budget and its consistency with the goals of returning to the limits set by the fiscal rules, as well as the trends of rapid recovery of the export and tourism sector, were positively evaluated.

The parties also drew attention to the importance of the reforms envisaged by the new three-year program with the International Monetary Fund in the country’s development process, and Georgia’s progress in the direction of implementing reforms was positively evaluated. Ongoing and planned reforms in the energy sector were emphasized, the aim of which is to ensure energy security and energy independence of the country.

The mission of the International Monetary Fund will visit the country in the framework of the first evaluation of the program in October.