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Thursday, August 24, 2017

IMF completes initial exam of Georgia economy

The International Monetary Fund's (IMF) Executive Board has concluded its first review of the economic climate in Georgia and approved the disbursement of $58.1 million in aid on Friday.

Georgia's macroeconomic health is in line with the established program, despite external factors, the board said. Growth in GDP is expected to be approximately 5 percent with the help of domestic demand and expansion fiscally. Inflation has been on a gradual increase, but is below the target percentage of 6 percent for the year.

Overall the country's performance within the IMF program is on track as of the September testing date.

Further examination will take place in 2015 to account for additional development partners and allow for a more thorough assessment.

The plan of the program is to strengthen the central bank against external forces to create a stable financial market in Georgia. Growth will rely on the existence of structure reforms, the IMF said.

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International Monetary Fund 700 19th Street, N.W., Washington, D.C. - 20431

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