IMF Staff Country Reports

Georgia : 2018 Article IV Consultation, Second Review under the Extended Fund Facility Arrangement, and Request for Modification of a Quantitative Performance Criterion – Press Releases; Staff Report; and Statement by the Executive Director for Georgia

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

June 28, 2018

Electronic Access:

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Summary:

This 2018 Article IV Consultation highlights positive macroeconomic performance in Georgia since the global financial crisis. Growth was higher than in most peers. The banking sector has remained stable, and foreign reserves have increased. After two years of sluggish growth, following the 2014 regional slowdown, growth has picked up and the external position has strengthened. Supported by external demand and buoyant consumption, real GDP grew 5 percent in 2017. The near-term outlook has improved moderately, and the output gap is expected to close gradually in 2019–20. Over the medium to long term growth is expected to accelerate moderately and external vulnerabilities to decrease, thanks to the dividends from structural reforms.

Series:

Country Report No. 18/198

Subject:

Article IV consultation reports Economic indicators Extended arrangement reviews Extended Fund Facility Fiscal policy Fiscal reforms Fiscal sustainability Letters of Intent Monetary policy Performance criteria modifications Press releases Price stabilization Revenue mobilization Staff reports