BAKU, Azerbaijan, December 18
By Tamilla Mammadova – Trend:
International Monetary Fund’s (IMF) board of directors has approved the updated forecast of Georgia’s macroeconomic indicators for the year of 2020, Trend reports referring to IMF.
IMF forecasts 4.3 percent economy growth in 2020 in Georgia. This indicator lags behind by 0.5 percent points in comparison with the growth rate published in October, 2019.
Deputy Managing Director and Acting Chair of IMF Tao Zhang said that the increased vagueness from international and local directions has negative impacts on the investment activity in Georgia that in turn damages the economy of the country.
He noted that the growth of the investments flow is related to "one-time factors" (increased excise) and lari depreciation.
"National Bank of Georgia was right when it decided to stiffen monetary policy to influence the inflation," Tao Zhang said.
According to him, the floating regime of the exchange rate functions as the economic shock absorbent.
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