BAKU, Azerbaijan, Dec.15
By Tamilla Mammadova – Trend:
The economic success of 2019 played an important role in Georgia's fight against the coronavirus pandemic in 2020, said the Minister of Economy and Sustainable Development Natia Turnava, Trend reports via Georgian media.
She made the remark while presenting the 2020 report of the Ministry of Economy.
Turnava noted that after GDP fell by 5 percent in 2020, economic growth is expected to be 4.3 percent in 2021. In 2021-2024, Georgia will have one of the highest average growth rates, globally 5.3 percent. The increased external debt will gradually decrease, the minister said.
"Continuation of structural reforms is planned: development of the capital market, energy reforms, large-scale reform of the mineral sector, increasing the efficiency of state-owned enterprises," she added.
In addition, the Georgian government will continue consultations to formalize a free trade agreement with the United States, negotiations with India and Israel. A study will also be conducted on the feasibility of a free trade regime agreement with South Korea.
According to Turnava, the Georgian authorities will continue to strengthen the transit corridor through Georgia. The Baku-Tbilisi-Kars railway project, the railway modernization project, and the development of port infrastructure in Poti will be completed.
Work on the Anaklia deep-water port project will start again. With the involvement of international financial institutions and consulting companies, it is planned to update the conditions for expression of interests, revise the feasibility studies associated with the project, and conduct a selection procedure.
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