BAKU, Azerbaijan, October 29
By Tamilla Mammadova – Trend:
The Chair of the Budget and Finance Committee of Georgia, Irakli Kovzanadze met with the Head of IMF Mission, Mercedes Vera-Martin, Trend reports via Georgian media outlets.
The parties discussed implementation of IMF program in Georgia, plans of the government, budget related issues, economic dynamics in Georgia and forecasts for 2020.
“We considered macro-economic tendencies of Georgia, challenges and perspectives. We in details spoke about the budget and fiscal issues, monetary policy and infrastructural reforms. We underlined successful implementation of IMF program in Georgia”, Kovzanadze noted.
The head of the IMF mission emphasized the importance of structural reforms and new legislative initiatives in Georgia.
"Despite external shocks, the Georgian economy is developing well, and the IMF forecast remains the same - 4.6 percent this year," Mercedes Vera-Martin said.
The International Monetary Fund (IMF) points to the success of fiscal reforms in Georgia.
According to the IMF, Georgia has undertaken major reforms to enhance the effectiveness of fiscal policy by strengthening fiscal institutions, reducing corruption, and improving the business climate. These reforms led to significant improvements in fiscal outcomes.
The IMF notes that since 2003 Georgia has enacted significant reforms of the public sector and fiscal institutions.