Minister: Georgian economy grows rapidly

Business Materials 31 January 2020 09:15 (UTC +04:00)
Minister: Georgian economy grows rapidly

BAKU, Azerbaijan, Jan.31

By Tamilla Mammadova – Trend:

Georgian economy grows rapidly, Georgian Minister of Economy and Sustainable Development Natia Turnava said, Trend reports citing Georgian media.

As Turnava noted, the Georgian economy has proved high economic endurance to external challenges and shocks.

“In recent years, Georgia has succeeded in various reforms that support liberalization of the economy, competitiveness of the private sector, access to finance and the creation of an attractive business climate,” the minister said.

Georgia’s achievements are well reflected in international ratings. Although the main achievement remains a high rate of economic growth (5.3 percent) from January to December 2019, which was higher than expected, she added.

“According to IMF forecasts, Georgia expects the highest economic growth rate compared to neighboring countries in the medium term (2020-2024), an average of 4.9 percent. The Georgian economy has proved its high economic stamina to external challenges and shocks. However, these external challenges and shocks can affect our economy, and our duty is to increase economic stability through further economic and strategic reforms,” said Turnava.


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