{
  "title": "Georgia: 2013 Article IV Consultation",
  "publication": "IMF Staff Country Reports, August 26, 2013",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/georgia-2013-article-iv-consultation-40886",
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  "summary": "This 2013 Article IV Consultation highlights that Georgia’s real GDP growth averaged 6½ percent in 2011–2012, about 1½ percentage points more than projected at the 2011 Article IV consultation.",
  "sections": [
    {
      "heading": "Growth performance and outlook",
      "content": "- Real GDP growth averaged 6½ percent in 2011–2012.\n- This outturn was about 1½ percentage points more than projected at the 2011 Article IV consultation.\n- The economy slowed markedly since mid-2012.\n- Growth could still reach 4 percent in 2013, rising to about 6 percent in 2014 and beyond."
    },
    {
      "heading": "Inflation, exchange rate, and energy prices",
      "content": "- Inflation has declined steadily, reflecting:\n  - lower food prices,\n  - lagged effects of exchange rate appreciation,\n  - cuts in administered energy prices.\n- The exchange rate has faced appreciation pressures, but has been kept stable against the U.S. dollar."
    },
    {
      "heading": "Labor market",
      "content": "- Unemployment remains high at 15 percent."
    },
    {
      "heading": "Policy-relevant themes and topics identified",
      "content": "- Balance of payments\n- Current account deficits\n- Exchange rates\n- Expenditure\n- External debt\n- Financial institutions\n- Loans\n- Public debt"
    },
    {
      "heading": "Keywords and transmission issues",
      "content": "- CR\n- Current account deficits\n- foreign-currency lending\n- Global\n- government\n- IMF staff estimate\n- ISCR\n- lari lending\n- Loans\n- monetary policy transmission\n- monetary policy transmission mechanism\n- transmission mechanism\n\nSource: Georgia: 2013 Article IV Consultation, IMF Staff Country Reports 2013, 264 (2013).\n\n---\n\n Content in this bundle\n\n- Georgia: 2013 Article IV Consulatation--Staff Report; IMF Country Report 13/264; August 1, 2013\n  - Georgia: 2013 Article IV Consulatation--Staff Report; IMF Country Report 13/264; August 1, 2013 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Georgia: 2013 Article IV Consulatation--Staff Report; IMF Country Report 13/264; August 1, 2013 (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
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    "Published: August 26, 2013",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484343258.002",
    "Real GDP growth averaged 6½ percent in 2011–2012.",
    "This outturn was about 1½ percentage points more than projected at the 2011 Article IV consultation.",
    "The economy slowed markedly since mid-2012.",
    "Growth could still reach 4 percent in 2013, rising to about 6 percent in 2014 and beyond.",
    "Inflation has declined steadily, reflecting:",
    "The exchange rate has faced appreciation pressures, but has been kept stable against the U.S. dollar.",
    "Unemployment remains high at 15 percent.",
    "CR",
    "foreign-currency lending",
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    "IMF staff estimate",
    "ISCR",
    "lari lending",
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    "transmission mechanism",
    "**Georgia: 2013 Article IV Consulatation--Staff Report; IMF Country Report 13/264; August 1, 2013**"
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