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IMF and Georgia Agree on 2016 Economic Policy

The Mission of the International Monetary Fund was on its two-day working visit to Georgia.

During the visit, the IMF Mission and Georgian Government agreed on the basic parameters of the economic policy for 2016.

Head of the IMF Mission Mark Griffiths told reporters that very productive meetings and negotiations were held during the visit.

He noted that the sides reviewed the parameters of the 2015 budget and the draft budget for 2016. The two parties agreed that the budget deficit in 2016 will not exceed 3 percent.

IMF emphasized the necessity of speeding up the structural reforms in Georgia, including the pension reforms, introduction of a deposit insurance system and ensuring the development of the capital market, according to Griffiths.