IMF Releases 2014 Report on Georgian Economy

The IMF mission expects the 2014 economic growth to reach 5%. This growth is supported by stronger consumption, increased private investment and higher exports (largely due to renewed trade relations to Russia). 5% growth rate is projected for 2015 as well. The mission reports that inflation remains low below the 6% target. The account deficit is expected to decline in 2015 with fiscal consolidation, greater exchange rate flexibility, reforms improving competitiveness, and the new opportunities given by the free trade agreement with the EU. To read the full IMF Report, Click Here.