Georgian FM: Despite External Shocks Georgia’s Economy Showed Resilience

Georgia’s Finance Minister, Ivane Machavariani, states that despite internal inconsistencies and external shocks, Georgia’s economy showed important ‘resilience’ in 2019.   

The Finance Minister spoke at the plenary session of Parliament in the ‘Hour of the Minister’ format. Machavariani said that the country's progressive economic indicators and economic durability could be visualized in the official assessments of international rating companies. The FM further stated that last year was manifested by substantial positive advances, which was greatly due to improved revenue and tax system management.

“We planned the budget for 2019 with 4.5% of economic growth, and despite internal disparities and external shocks, our economy showed significant resilience. As a consequence, according to the preliminary data, economic growth hit 5.2%. The sustainability of our country's economy was highlighted in the reports of the three most trusted rating companies. Along with the implemented reforms, the sustainability of the economy is one of the most important components, due to which, all three companies raised our sovereign rating,” the Finance Minister said at the hearing.

By Beka Alexishvili