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Monetary Fund to Decrease Forecast of Economic Growth in Georgia

“Considering decreased global economic growth, Georgian economy demonstrated steadiness and continues to recover from external shock, however it is a slower process than it had been planned beforehand”- declares Monetary Fund in its press release. 

Realistic growth of GDP equals to 2.7% whereas inflation equals to 2%. Next year, economy will increase with 4% and inflation will decrease with 3%.

In the last forecast, which was made on 14th of October, 2016, it was expected to have 3.4% growth in 2016 and 5.2% in the next year in Georgia.

The leader of the mission was Mrs. Mercedes VeraMartin and representatives of International Monetary Fund were in Georgia from 15th to 22nd of November.

In a new press release, it has been written that members of the mission have discussed medium term plans, including 2017 budget project and planned structural reforms. In the press release, published on Fund website, it says that Georgian government has ambitious infrastructure plans, which should promote tourism and trade. The government is also planning to implement structural reforms which will help economic diversification and broadening lari usage in the economy