Georgia: 2013 Article IV Consultation

International Monetary Fund

No 2013/264, IMF Staff Country Reports from International Monetary Fund

Abstract: 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. Inflation has declined steadily, reflecting lower food prices, lagged effects of exchange rate appreciation, and cuts in administered energy prices. The exchange rate has faced appreciation pressures, but has been kept stable against the U.S. dollar. However, the economy has slowed down markedly since mid-2012, and unemployment remains high at 15 percent. Despite the slowdown, growth could still reach 4 percent in 2013, rising to about 6 percent in 2014 and beyond.

Keywords: ISCR; CR; lari lending; government; monetary policy transmission mechanism; transmission mechanism; IMF staff estimate; foreign-currency lending; monetary policy transmission; Current account deficits; Loans; Global (search for similar items in EconPapers)
Pages: 60
Date: 2013-08-26
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