Republic of Georgia : Fifth Review Under the Extended Arrangement, Requests for Waivers of Nonobservance of Performance Criteria, Modification of Performance Criteria, and an Extension of the Arrangement and Rephasing of Access-Press Release; Staff Report; and Statement by the Executive Director for Georgia

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

December 18, 2019

Electronic Access:

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Summary:

GDP growth remains on track to reach 4.6 percent despite the ban on direct flights from Russia. The current account deficit reached a historic low. Inflation accelerated to 6.9 percent in October reflecting higher food prices and nominal depreciation. The National Bank of Georgia used FX sales and higher policy rates to address rising inflationary pressures. Strong revenue growth has more than offset higher-than-envisaged capital spending, and the 2019 fiscal deficit is likely to be lower than projected at the Fourth Review.

Series:

Country Report No. 19/372

Subject:

English

Publication Date:

December 18, 2019

ISBN/ISSN:

9781513523514/1934-7685

Stock No:

1GEOEA2019003

Format:

Paper

Pages:

75

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