Mercedes Vera-Martin: Reform program is implemented according to the plan in Georgia, economy growth in the first quarter of 2019 was high.

13:55, 13.05.2019

The reform program is implemented according to the plan in Georgia. The majority of the terms required to complete the Fourth Review has been already fulfilled, – Mercedes Vera-Martin, head of the mission of International Monetary Fund (IMF) made this statement at the briefing held at the Government Administration today. The IV Review of the Extended Fund Facility (EFF) was the main topic of the briefing.

According to Mercedes Vera-Martin, despite the unfavorable foreign conditions, the Georgian economy growth in the first quarter of 2019 was high.

„Georgia’s economic growth forecast for 2019 is 4.6%, and inflation will slightly exceed the 3 percent target, mainly due to the increase in excise taxes on tobacco. Structural reforms and investments in infrastructure will accelerate growth in the medium term, which will be approximately 5.25%. The deficit of the current report will be gradually decreased, which will depend on improvement in the trade balance” – Mercedes Vera-Martin said.

Economics

IMF

Mercedes Vera Martin