Genadi Arveladze Chaired Meeting of Thematic Working Group of Donor Organizations on Economic Growth

Genadi Arveladze, Deputy Minister of Economy and Sustainable Development chaired an online meeting of the thematic working group of donor organizations on economic growth. Representatives of over 20 donor organizations and Georgian Government agencies participated in the meeting. European Investment Bank Regional Director for the South Caucasus Machie Chura chaired the donors’ session.

Representatives of the Georgian Government agencies made presentations on the reforms planned in the coming years and the relevant projects that shall be implemented with the support of the donors including in such fields as trade, transport, infrastructure, green economy, etc.

In his welcoming address, the Deputy Minister stressed the importance of the support provided by development organizations in Georgia. According to Arveladze, Georgian Government developed a 10-year development plan, which has quite ambitious targets. As Genadi Arveladze noted that the macroeconomic indicators of the country are significantly increasing after the economic downturn caused by the pandemic.

“As a result of the Government’s anti-crisis decisions, there is a significant growth of the Georgian economy, which amounted to 12,7% in January-July period. It is interesting that leading financial institutions have revised their economic growth forecasts published earlier this year. For example, the International Monetary Fund raised its GDP forecast to 7,7% and named Georgia to be the country with the fastest economic recovery in the European region in the medium term. With this in mind, I think we can already return to the usual agenda of development,” – Genadi Arveladze commented.

Government of Georgia regularly organizes meetings of thematic coordination groups to provide consistent information exchange on the ongoing reforms and development needs to donor countries and organizations, as well as to facilitate the implementation of the initiatives by the Government agencies and the mobilization of the foreign support resources.

Ministry of Economy and Sustainable Development of Georgia. 2021 ©