Levan Zhorzholiani, Head of the Government Administration of Georgia, held a meeting with representatives of the International Monetary Fund (IMF) to discuss the ongoing reform of state-owned enterprises (SOEs), the Government Administration reported.

During the discussion, Zhorzholiani highlighted that the first phase of the reform—focused on optimization—has already generated annual savings of over 52 million GEL, particularly within the energy sector and Georgian Railway JSC.

He outlined the core objectives of the reform, which aim to modernize SOE management, improve corporate governance, and reduce reliance on state subsidies. The ultimate goal, Zhorzholiani noted, is to transform these enterprises into profitable, budget-contributing entities with stronger supervisory boards and more transparent operations.

A key aspect of the reform is ensuring that SOEs do not unfairly compete with the private sector, fostering a more efficient and balanced economic environment. The full benefits of the reform are expected to materialize by 2028.

The meeting was attended by Natalie Manuilova, IMF Mission Chief; Yannick Vel, Regional Advisor on Fiscal Risk Management; and short-term IMF experts Eryl Halstead and Sorana Baciu from the Fiscal Affairs Department.