EBRD First VP Positively Assesses Georgia's Economic Growth

The First Vice-President of the European Bank for Reconstruction and Development (EBRD), Jurgen Rigterink, met with Prime Minister Giorgi Gakharia last week. The VP of the EBRD stated that he sees significant progress in the Georgian economy and he positively evaluates the economic growth rate.

Mr. Rigterink spoke at the conference with the Georgian PM about the currency exchange value of the Georgian Lari, current account deficit and the pace of Georgia’s positive economic tendencies.     

The PM and VP of EBRD also discussed the coronavirus outbreak and the toll it can have on the global economy. Attention was brought to the steps the government has to take in order to minimize the negative economic effects of coronavirus. 

“We had a very good and constructive meeting with the Georgian Prime Minister and the Finance Minister, who is also a representative in the EBRD from Georgia," Rigterink said. "The country’s progress in 2019 is significant. The economic growth index is very good, which is also shown in the investments of the EBRD, which amounts to 300 million Euros of capital investment.       

"We conferred on our future perspectives and discussed numerous possible projects where we can put combined investments, from both the public and private sectors.

"The economic challenges in 2020 for Georgia will not only transpire because of the planned elections in the 3rd quarter but because of coronavirus. This is a challenge for every country. We discussed the possible economic effects of the virus with the Georgian PM. This will have an effect on the whole region and on the GDP progress, especially in a country where tourism is an important factor for the growth of GDP,” said Rigterink.

By Beka Alexishvili