IMF Expects 4.6% Economic Growth in Georgia in 2019

The International Monetary Fund (IMF) reports that economic growth in Georgia is projected to reach 4.6% in 2019.

The IMF team was led by Mercedes Vera-Martin and they visited Tbilisi February 20-26, to discuss recent economic and financial developments and progress with structural reforms. 

The representatives of the IMF also noted that the Georgian banking sector remains well capitalized, liquid, and profitable.

The IMF commended the Georgian authorities to advance structural reforms and stressed the need for continued efforts to promote inclusive growth and higher economic resilience to external shocks.

IMF team will visit Georgia for the fourth review of Georgia’s IMF-supported program in April-May.

The World Bank also forecasts 4.6% economic growth in Georgia in 2019, 4.8% in 2020 and 5% in 2021, shows Europe and Central Asia Economic Update of the World Bank.

As for Georgia’s neighboring countries, Armenia will experience 4.2% economic growth, Azerbaijan – 3.3% growth, Russia – 1.4% growth and Turkey – 1% growth.

In addition, the Asian Development Bank’s economic forecast said that the Georgian economy will grow by 5% in 2019.

By Thea Morrison