MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili and Mission Chief of the International Monetary Fund, James John discussed the progress of the reforms envisaged by the program between the Government of Georgia and the International Monetary Fund at a meeting held in the Ministry of Economy and Sustainable Development. First Deputy Minister Romeo Mikautadze, Deputy Minister Vakhtang Tsintsadze, Head of Department of Energy Policy and Investment Projects Jubo Turashvili and members of the IMF mission attended the meeting as well. 

Levan Davitashvili thanked the IMF mission for productive cooperation and emphasized the progress that Georgia has achieved in terms of improving the main economic indicators and implementing structural reforms. According to Vice Prime Minister, the Government of Georgia, together with partner organizations, continues active work in the direction of strengthening economic stability, structural improvement of the economy and maintaining macroeconomic stability, which also includes the macroeconomic reforms and state enterprises supported under the IMF programs.

Ongoing structural reforms and those large-scale infrastructural projects that will contribute to the growth of productivity and efficiency, the use of new economic opportunities, accelerate economic growth and, accordingly, have a positive impact on the well-being of the population were also discussed during the meeting. The conversation covered the deep-sea port of Anaklia, the project of the Black Sea submarine power transmission cable and the renewable energy facilities, the development of which will be implemented within the framework of the support scheme for the production and use of energy from renewable sources agreed by the Government with the International Monetary Fund. The parties also discussed various issues of the opening of the energy market and emphasized the high activity expressed by private companies, which was observed in the first auction of the power plant’s power generation capacity from renewable sources.

The Government of Georgia continues active cooperation with the International Monetary Fund in the implementation of the reforms supported within the framework of the program and, in general, the successful continuation of the program.