‘Georgia’s Economic Performance Remains Strong’, Says IMF

On December 19, the Executive Board of the International Monetary Fund (IMF) has completed its third review of Georgia’s economic performance.

‘Georgia’s economic performance remains strong’, reads the report, ‘but downside risks to outlooks have increased.’ Positively, inflation has remained below the 3% target in 2018, and Georgia’s external position has strengthened. Moreover, the banking sector has stayed well-capitalized, liquid and profitable. However, dollarization is high.

‘Despite the positive outturns, the authorities need to remain vigilant to a deteriorating external outlook and to sustain reform efforts to promote more inclusive growth’ advises the IMF.

The continuation of structural reforms is monumental to achieving higher and more inclusive growth. The report lists the adoption of new corporate insolvency law and a comprehensive education reform as top priorities.

By Amy Jones

Photo source: International Monetary Fund