BAKU, Azerbaijan, April 2. Georgia does not expect an increase in the budget deficit in 2023, the Minister of Finance of Georgia Lasha Khutsishvili said, Trend reports via Georgian media.
According to the minister, Georgia’s budget deficit will stay within the approved 4 percent level next year, or even fall below 3 percent. This will be achieved through the new three-year program of the International Monetary Fund (IMF), Khutsishvili added.
“Talking about forecasts, the environment is very changeable. Forecasts change depending on the geopolitical situation. However, at present there is no sign that we cannot reach the targets we have set regarding the budget deficit,” he said.
The minister noted that the increase in Georgia’s external debt is not expected as well.
Meanwhile, the IMF has agreed on providing Georgia with $289 million under a Stand-by Agreement within a new three-year economic program. The program aims to maintain and further entrench macroeconomic stability in the context of back-to-back shocks from the pandemic and the hostilities in Ukraine, strengthen medium-term growth, and enhance economic resilience, IMF said.
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