BAKU, Azerbaijan, May 4. Georgia has made steady progress toward bolstering Middle Corridor connectivity, the country’s Minister of Finance Lasha Khutsishvili said in his statement for ADB Annual Meeting in Samarkand, Uzbekistan, Trend reports.
“Countries of our region, whether we call it the Silk Road, CAREC 2, Middle Corridor or Trans Caspian route, have been trained in resilience for centuries and it is being realized that the current challenges need the resilient efforts to be made collectively. Georgia has made steady progress toward its strategic objectives—completing core infrastructure of East–West highway, bolstering Middle Corridor connectivity and has a strong agenda of further enhancement of the road, rail, energy, and digital connectivity and energy security and independence,” he said.
Khutsishvili pointed out that in this challenging landscape, Georgia’s policy priorities remain steadfast: safeguarding macroeconomic stability, mitigating adverse effects, preparing for any reversal of transient positives, and securing the long-term viability of structural reforms, major investment projects, and responses to surrounding geopolitical shifts.
“As a result, the economy of Georgia has been growing on average above 9.3% for the past five years, while bringing all the fiscal parameters to low-safe levels (1.4% deficit, 34.4% debt) and keeping Capex at high 7%–8% of gross domestic product,” he added.
The minister went on to add that Georgia enjoys a successful partnership with ADB through our diversified portfolio, valued at approximately $6 billion across public and private sectors.
“We look forward to deepening this collaboration in Georgia's key priority areas further, as the 20-year anniversary of our partnership approaches: enhancing connectivity via expanded rail and road connectivity; green and renewable generation; battery storage for energy independence and security; improved transmission connectivity—including the forthcoming Black Sea Submarine Cable project; advancing digital infrastructure; upgrading water and municipal services; and reforming corporate governance. But we recognize that domestic efforts must be complemented by strong international partnerships. This means deepening cooperation across governments, multilateral institutions, and the private sector,” he added.
