IMF is ready to assist the development of small and medium-sized businesses in Georgia

July 6 2020

The President of Georgia discussed with representatives of the Fund a new three-year plan and cooperation issues. 

Georgian President Giorgi Margvelashvili met with representatives of the International Monetary Fund. According to the press service of the President of Georgia, the meeting discussed the new three-year plan of the fund for Georgia, the economic situation in the country, issues of fiscal and monetary policy, pension reform and capital market development.

According to the president, they also discussed factors hindering the development of agriculture, including problems with land registration. Giorgi Margvelashvili believes that improving the legislative base and more active implementation of new legislative initiatives are of decisive importance in this matter.

The meeting discussed factors and problems that hinder the development of small and medium-sized businesses. According to the President, the IMF representatives expressed their readiness to take these factors into account and in the future in every possible way to promote the development of small and medium business in Georgia.

The delegation of the Fund at a meeting with the President said that according to the IMF, the growth rate of the Georgian economy at the moment is 3,3,5%. Maya Melikidze, presidential adviser on economic issues, said that these are real indicators, but it is important that they correspond to both the monetary and fiscal policies of the government.