The Deputy Prime Minister/Minister of Economy and Sustainable Development of Georgia Levan Davitashvili and the Minister of Finance Lasha Khutsishvili met withJihad Azour is the Director of the Middle East and Central Asia Department at the International Monetary Fund, who is on a two-day working visit to Georgia. As the Ministry of Economy reports, the IMF Resident Representative for Georgia, Selim Chakir, the Deputy Ministers of Finance and Economy and Sustainable Development and the Heads of Departments attended the extended meeting.
"The parties reviewed the issues of cooperation between Georgia and the International Monetary Fund. The importance of the new three-year program aimed at further strengthening macroeconomic stability, increasing medium-term growth prospects in the face of existing challenges in the region, facilitating continued structural reforms, including the public finance management, the state enterprise reforms and energy support schemes, was emphasized.
The Georgian side informed the Director of the Middle East and Central Asia Department of the International Monetary Fund about the current situation in the country's economy, indicators of economic growth as of the 5th month of the current year, as well as future forecasts. It was emphasized at the meeting that Georgia has quite a successful experience in managing external shocks and despite the current geopolitical shock, by implementing an immediate and effective economic policy, the economy of Georgia maintains high rates of economic growth, sustainability and macroeconomic stability.
As the Director of the Middle East and Central Asia Department of the International Monetary Fund noted, the authorities had shown significant progress in the direction of strengthening the regulation and supervision of the financial sector. According to him, the IMF supports the economic program developed by the government, which is focused on reducing the fiscal deficit, inflation and external vulnerabilities, as well as structural reforms necessary to boost growth.
The parties underscored the close relationship between Georgia and the IMF. It was said that the Fund provides significant support to Georgia through various programs, including technical assistance. They also discussed the current regional events and their impact on the economy of both Georgia and the neighboring countries.
At the end of the meeting, the parties expressed their readiness to continue cooperation in the process of implementing important economic and structural reforms for the country," - the Ministry said.
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