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Mamuka Bakhtadze

IMF Upgraded the Economic Growth Projections for Georgia

Prospects of economic growth of Georgia and progress achieved towards macroeconomic stability were discussed by Mamuka Bakhtadze, Prime Minister of Georgia and Christine Lagarde, Managing Director of the International Monetary Fund (IMF) in Washington D.C.

Focus was made on the reforms planned by the Government of Georgia, which are aimed at the economic advancement, fundamental transformation of the education system and development of human capital.

IMF position was positive towards the current economic trends in the country and significant progress achieved towards macroeconomic stability was underlined. It was noted that due to the high economic performance of the country, IMF has upgraded the economic growth projections for Georgia.

Managing Director of the IMF and Prime Minister of Georgia expressed readiness to continue the fruitful cooperation in future.

Mme Lagarde noted that IMF will look into the fiscal space to enable the implementation of the vision conveyed by the Prime Minister of Georgia.

“We had a very good discussion about the current economic situation of Georgia, about the progress made from the macroeconomic stability point of view, about the reforms that are underway and we had a special discussion about this project to develop an investment for the education in Georgia. I told the Prime Minister that we would look carefully at the combination of macroeconomic stability and the appropriate investment in the education to make sure that there will be a sensible fiscal space to do that” stated the Managing Director of the IMF after her meeting with the Head of the Government of Georgia.