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IMF talks about Georgia's economic growth prospects

Business Materials 22 October 2020 11:01 (UTC +04:00)

BAKU, Azerbaijan, October 22

By Tamilla Mammadova – Trend:

The head of the Middle East and Central Asia Department, Jihad Azuri, held a briefing, which discussed issues related to the impact of the coronavirus pandemic on the economy of the region, including Georgia, Trend reports via Georgian media.

According to him, Georgia is one of the countries in the region that has carried out radical reforms over the years, which allowed it to improve its macroeconomic indicators.

“This proved to be very helpful during the coronavirus pandemic, which hit the country's economy hard, as it is an open economy where the level of integration of tourism, trade, and global values ​​is very high,” he said.

As he noted, the central bank of the country used all the levers in its hands to protect the financial stability of the country, including the exchange rate of the national currency, from the shocks facing the country.

“In addition, the government has taken additional measures to provide financial assistance to businesses and the population during the pandemic. All current reforms should be continued to increase the competitiveness of Georgia,” Azur said.

According to Azur, it is very important to reduce risks in sectors that are associated with international trading partners.

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