“It is significant that once again the convergence of forecasts between Georgia’s Ministry of Finance and the International Monetary Fund have aligned,” Georgian Finance Minister Lasha Khutsishvili stated at a joint briefing with the Chief of the IMF mission to Georgia and the President of the National Bank (NBG).

As Lasha Khutsishvili noted, within the framework of the mission, together with the Fund, they once again reviewed current economic and fiscal policy trends and forecasts.

“I can say that the IMF mission to Georgia was highly successful. The Ministry of Finance and the Georgian government consistently emphasize the importance of this cooperation. Through close collaboration with the Fund, we continuously monitor economic trends and adjust our fiscal and monetary policies accordingly. It is noteworthy that we have nearly aligned with the International Monetary Fund on all key fiscal and macroeconomic indicators, and the Fund’s assessments closely match the forecasts previously announced by the Ministry of Finance and the government.

Economic growth has increased to 7.2 per cent, up from the earlier projection of 6 per cent. Regarding the budget deficit, which stands at approximately 2.4-2.5 per cent, our forecasts are fully in line with the Fund’s assessments. As for government debt—last year reduced to 36 per cent and well below Georgia’s safe debt threshold—we share the view that the country will maintain this level, with a further downward trend, remaining within the projected range of 34-36 per cent.

In terms of inflation, the policies and forecasts issued by the National Bank align with the assessments of the International Monetary Fund,” Finance Minister Lasha Khutsishvili said.

According to him, positions have been aligned on the successful results of Georgia’s fiscal policy.

“We agree that the fiscal position Georgia has today is significant and favourable under conditions of uncertainty in the global economy. Georgia met this process prepared. All fiscal parameters are healthy and sustainable, with the ability to respond appropriately to all challenges,” Lasha Khutsishvili noted.

He also focused attention on reforms that Georgia’s government is implementing together with the International Monetary Fund.

“We discussed the ongoing reforms within Georgia’s government, including our collaboration with the International Monetary Fund. We agreed that progress in these reforms will continue with the IMF’s active involvement. This is especially true for the most comprehensive reform — the restructuring of state enterprises — which remains a priority and is advancing actively. Notably, the IMF’s recent assessment acknowledged tangible results in this area.

We also addressed fiscal risk management. The Ministry of Finance has established a robust financial supervision framework, representing a significant and progressive step within our reform agenda. Nonetheless, numerous other components remain under active development, and we exchanged views with the IMF on these initiatives.

The IMF mission confirmed their commitment and readiness to support the continuation of these vital reforms. It’s important to recognize that this is a long-term process, spanning many stages, rather than a one-year effort. Overall, we have made considerable progress, and our partnership with the IMF remains instrumental in driving these reforms forward,” stated Finance Minister Lasha Khutsishvili.

The Finance Minister thanked the IMF mission, the Ministry of Finance, the National Bank, the Ministry of Economy and Sustainable Development, and various agencies for fruitful work conducted in the format of Article IV consultations.