"Vaccination and peace in the region are the basis for a 4.3 percent economic growth forecast in 2021," said Natia Turnava, the Minister of Economy and Sustainable Development.
Turnava says that because of the pandemic, the country's economy suffered more in 2020 than expected.
"The pandemic is a generally unpredictable process. In addition, it happened during the conflict between Azerbaijan and Armenia, which then ended in peace. In 2021, two factors give us the basis for a 4.3 percent growth forecast. One, it is vaccination, but we are highly dependent on quality and speed of vaccination;
Second, there is peace in the region and absence of negative factors," Turnava said, adding that structural reforms for economic growth in Georgia would continue, which, according to the minister, would not only accelerate the growth process but also improve its quality.
"It will be inclusive growth aimed towards poverty alleviation. Besides, we will activate factors such as a new, intensive privatization policy. We have large-scale issuance of mineral licenses, privatization of state-owned enterprises, and, at the same time, corporatization and reform. These three factors will work in favor of accelerating economic growth," Natia Turnava said.
