BAKU, Azerbaijan, November 14
By Tamilla Mammadova – Trend:
International Monetary Fund predicts that Georgia will maintain its leading position in the region in 2020–2024, said Minister of Finance of Georgia Ivane Machavariani, Trend reports referring to the Ministry of Finance.
He made the remark at a session of the Parliament of Georgia while presenting the state budget of Georgia for 2020.
“This is a very positive indicator given that the average economic growth of our trading partners in the first half of the year was less than one percent. I would like to draw attention to the extent to which our economic growth exceeds the growth in the region, this is the dynamics that has been obvious in recent years,” said Machavariani.
According to the minister, economic growth in the last quarter of this year amounted to 5.7 percent, and during the year - to 5 percent.
“Our policy has significantly enhanced macroeconomic stability in Georgia, increasing the role of the fiscal sector in promoting economic growth,” the minister said.
According to him, fiscal policy and budgeting for 2017–2020 were based on three main principles: reducing the financial deficit, controlling current expenses and increasing capital expenditures.
“These principles formed the basis of the program of the International Monetary Fund, all of which the government has successfully implemented,” said Machavariani.
During the presentation, the minister emphasized that the development of infrastructure projects in the country remains a priority for the Georgian authorities.
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