The IMF board of directors has approved the updated forecast of Georgia’s macroeconomic indicators for the year of 2020.
The IMF has forecasted 4.3% growth in 2020 in Georgia for 2020. It lags behind by 0.5% points in comparison with the growth rate published in October, 2019.
Deputy Executive CEO of IMF Tao Zhang says the increased vagueness from international and local directions has negative impacts on the investment activity in the country that in turn damages the economy of the country.
He says the growth of the investments flow is related to ‘one-time factors’ (increased excise) and GEL depreciation.
Zhang says the National Bank of Georgia was right when it decided to stiffen monetary policy to influence the inflation.
He says the floating regime of the exchange rate functions as the economic shock absorbent.
Under the official document published by IMF on December 17, 2019 Georgia received 41,4 mln USD.
In total, the funds allocated to Georgia reach $248.7 mln.
Bela Gelashvili
News Author