IMF Chief: Georgia’s Economic Performance Is Strong, Built on Sound Policies
An International Monetary Fund (IMF) mission, led by Alejandro Hajdenberg, held meetings in Georgia from March 25 to April 7 as part of the Article IV consultations.
Today, the IMF mission chief held a joint press conference at the National Bank of Georgia together with the Governor of the National Bank and Georgia’s Minister of Finance.
At the concluding press briefing, Hajdenberg stated that Georgia’s economic performance remains strong, supported by prudent macroeconomic management and policies.
“Georgia’s economic performance is strong, based on sound macroeconomic management and policies. At the same time, amid increasing global uncertainty—particularly in light of the war in the Middle East—risks to the outlook are rising. If the conflict remains short-lived, we expect Georgia’s economy to continue strong growth, albeit at a more moderate pace. This will reflect a continuation of the prudent management seen in recent years.
While headline inflation has exceeded the target due to rising food and energy prices, core inflation remains contained. The external position has strengthened, with the current account deficit narrowing and international reserves reaching a historic high. Fiscal discipline has been maintained, and public debt remains low.
However, geopolitical risks affecting the economic outlook are increasing, including the potential prolongation of the war in the Middle East. Georgia is better prepared to withstand external shocks, supported by strong macroeconomic fundamentals and policy buffers.
Going forward, policies should focus on maintaining macro-financial stability and preserving hard-earned credibility. To sustain strong growth and create more jobs, structural reforms should be accelerated,” said Hajdenberg.
