Finance Minister predicts that by 2021 Georgia will have 5% economic growth

SOCIETY

16.09.20 18:00

Minister of Finance, Vano Machavariani, predicts that by 2021 Georgia will have 5% economic growth. As Machavariani stated after the meeting of the Coordination Council, the IMF also shares this position on the economic growth rate.

"I had a short meeting with the IMF mission, it was a face-to-face meeting. We finally agreed and they expect the economy to shrink by 5% this year and next year to grow by 5%. Trends in economic recovery can be seen in virtually every sector except tourism. We see it in construction, as well as in other sectors, in agriculture. In practice, the dynamics and growth process return to the old mark. We believe that the fiscal policy that is going on and the infrastructure projects that are underway should not drop this pace. On the contrary, by 2021 it will be one of the crucial and important factors to further accelerate the recovery process. We will still live in high deficit conditions for next few years, although we believe that by 2023 we should return to the old mark, which is below three percent. This is our natural, safe and organic indicator", - stated Machavariani.

source: IPN

Write comment

Warning!
(In their comments, readers should avoid expressing religious, racial and national discrimination, not use offensive and derogatory expressions, as well as appeals that are contrary to the law)

You can enter 512 characters

SOCIETY

News feed