Baku, Azerbaijan, September 18
By Tamilla Mammadova – Trend:
The International Monetary Fund (IMF) upheld the forecast that Georgia’s economic growth this year will be 4.6 percent, Trend reports citing a press release published by the IMF mission in Georgia.
“The foundation of the Georgian economy remains stable. Despite relatively less favorable economic conditions, economic activity in the first half of 2019 was more positive than planned - about five percent. As of August, inflation growth (4.9 percent year on year) was due to higher excise taxes, higher food prices and a depreciation of the lari," said Mercedes Vera-Martin, Deputy Division Chief at IMF.
According to the fund, by the end of the year, inflation will amount to 5.4 percent. In turn, the current account deficit of the balance of payments will improve to six percent.
The IMF delegation visited Georgia on September 11. Meetings were held with Prime Minister of Georgia Georgi Gakharia, President of the National Bank of Georgia Koba Gvenetadze, ministers of the economic related bloc, and representatives of the private sector.