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The IMF Names Terms of Returning Georgia to the 5% Growth

The IMF Names Terms of Returning Georgia to the 5% Growth

Tao Zhang, Deputy Managing Director, IMF names terms of returning Georgia to the 5% growth.

He made remarks at Tbilisi State University and noted that they see Georgia returning to the 5.5 percent growth after the recent downturn, but it would depend on several issues.

“That will depend on the continuation of recent policies that have created favorable conditions for private investment, productivity growth, and greater export competitiveness. The environment for doing business is also improving”, – Tao Zhang, Deputy Managing Director, IMF.

He talked about the Caucasus region and said that the region’s state debt and weak financial systems were historically characterized and the governments of those three countries must resolve these issues inevitably.

To remind, the IMF projects that Georgia will grow about 3.5 percent this year, this is largely supported by investment and private consumption.