Minister: Georgia’s economy to grow in 2021
BAKU, Azerbaijan, Sept.16
By Tamilla Mammadova – Trend:
Georgian Finance Minister Ivane Machavariani expects by 2021 Georgia’s economy to grow by 5 percent, Trend reports via Georgian media.
Machavariani made the remark after the meeting of the Coordination Council that such economic growth projection is shared by the IMF.
"I had a short face-to-face meeting with the IMF mission. We finally agreed and expect the economy to shrink by 5 percent this year and next year to grow by 5 percent," he said.
According to the minister, every sector except tourism will see economic recovery.
"In practice, the dynamics and growth process return to the old mark. We believe that the fiscal policy that is going on and the infrastructure projects that are underway should not drop this pace. On the contrary, by 2021 it will be one of the crucial and important factors to further accelerate the recovery process. We will still live in high deficit conditions for next few years, although we believe that by 2023 we should return to the old mark, which is below three percent. This is our natural, safe and organic indicator," Machavariani said.
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