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Government should Leave Fiscal Space for Major Infrastructural Projects

“Government strategy for the state budget calls for cutting the accrued expenses to leave fiscal space for major infrastructural projects”,  Francois Painchaud, IMF Resident Representative in Georgia, told the BM.GE. Salaries constitute one of the key components of the accrued expenses. “In 2017 the Government managed to cut expenses. Government …

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IMF Staff Concludes Visit to Georgia

IMF Georgia

An International Monetary Fund (IMF) team, led by Ms. Mercedes Vera-Martin, visited Tbilisi during February 7-13, 2018 to discuss recent economic and financial developments and progress with structural reforms. At the conclusion of the visit, Ms. Vera-Martin issued the following statement: “Economic developments in 2017 were positive. Growth reached 4.8 …

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To Catch up and Surpass Belarus

According to IMF Forecast, by 2022 Georgia will Go Richer of Albania and Bosnia and Catch up Belarus. According to International Monetary Fund (IMF), Georgia’s GDP per capita will exceed 4.123 USD in 2017. As a result, for the first time in the 21st century, Georgia will move to the …

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The IMF Expects to Mobilize FDI in Tradable Sectors

The IMF Expects to Mobilize FDI in Tradable Sectors

The International Monetary Fund (IMF) expects to mobilize Foreign Direct Investments (FDI) in tradable sector. Georgia continues to promote trade integration. Free Trade Agreements (FTAs) will help mobilize FDI in tradable sectors, improve competitiveness, reduce external imbalances and generate more balanced growth, – the IMF declared, which recently completed the …

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Georgia’s 2018 Budget Appropriately Targets Further Fiscal Consolidation

The 2018 budget appropriately targets further fiscal consolidation, IMF reports. The 2018 budget envisages a further decline in the deficit while allowing for an increase in capital spending. To achieve this, efforts to strengthen revenue administration should continue, especially to prevent the buildup of VAT claims. The authorities should also …

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Georgia Receives $42,4 Million From IMF

The Executive Board of the International Monetary Fund (IMF) completed the First Review of Georgia’s performance under the three-year extended arrangement under the Extended Fund Facility (EFF) on a lapse of time basis. The completion of the review enables the release of SDR 30 million (about $42.4 million), bringing total …

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Georgia’s External Debt Rises by 0.545bn USD Year on Year

Georgia’s external liabilities are growing. Over the past year Georgia’s foreign liabilities rose by 0.545bln USD and equaled to 5.01bln USD as of October 31, 2017. According to Ministry of Finance, monthly reports have recorded a slight contraction in debts, down from 5.005bln USD as of September 2017. The figure …

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IMF COUNTRY FOCUS – Georgia Growing

IMF COUNTRY FOCUS – Georgia Growing

Georgia is in the focus of the International Monetary Fund (IMF). The Vice Prime Minister of Georgia and the President of the National Bank of Georgia (NBG) are responding to the IMF questions on the current situation and perspectives in the country. The interview was held during the annual meeting …

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