IMF forecasts 4.6% economic growth in Georgia

IMF forecasts 4.6% economic growth in Georgia

The International Monetary Fund said that Georgia's economic growth is projected to reach 4.6% in 2019.

An IMF team led by Mercedes Vera-Martin visited Tbilisi on February 20-26 to discuss recent economic and financial developments and progress with structural reforms.

At the end of the visit, Vera-Martin issued a statement in which she said that significant infrastructure investment is expected to compensate for weaker external demand and slower credit growth in Georgia.

"Scaling up infrastructure expenditure will need to be accompanied by improved project selection and management. The current account deficit is projected at around 8% of GDP, owing to still robust growth in exports and remittances," Agenda.ge cited her as saying.

Vera-Martin added that risks to the outlook are mainly on the downside, including weaker trading partner growth, global trade tensions, and a sharper-than-projected credit slowdown. This calls for continued prudent macroeconomic policies, exchange rate flexibility and a buildup of reserves.

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