Georgia: Finance Minister of Georgia Lasha Khutsishvili expects an increase in the economic growth of the current year i.e. 2024. He said, “It is expected that the forecast of economic growth for 2024 will increase.”
The mission of the International Monetary Fund has completed its work in Georgia, which implements consultations according to Article IV of the IMF periodically, in a planned manner.
After completing the mission, the National Bank held a media briefing by the Minister of Finance, Lasha Khutsishvili, Deputy Director of the Department of Middle East and Central Asia, Subir Lal, and the Acting President of the National Bank, Natia Turnava.
As Minister of Finance, Lasha Khutsishvili noted, based on ongoing analysis by the International Monetary Fund, once again, the stability of Georgia’s macro-economic and fiscal policy has been confirmed, and also the steps taken by the Georgian Economic Team have been highly evaluated.
The Finance Minister said, “As you know, the economic growth last year was 7.5%, and the forecast for this year is 5.2%, according to the calculations prepared at the end of last year when the draft budget for 2024 was presented.” At the same time, we said that there would be an update on economic trends in early 2024.”
“Therefore, it is expected that our forecasts will also change in the direction of growth. “It is important that the Fund’s forecast of economic growth is also corrected towards growth and is expected to be 5.7% under the circumstances where the country maintains stable fiscal policy parameters, in terms of debt and deficit, as well as monetary policy is stable – inflation has been fixed below 1% over the last 10 months,” said Finance Minister Lasha Khutsishvili.
At last, he thanked the International Monetary Fund (IMF) team and colleagues for the fruitful cooperation.
