Georgian PM accuses foreign 'agents' of undermining economy amidst IMF ‘growth forecast’

Georgian Prime Minister Irakli Kobakhidze has accused certain foreign individuals of attempting to destabilize the nation's economy through alleged coordinated negative commentary, labelling them as "agents" acting against the country's interests.

Speaking on the programme Imedi LIVE on Wednesday, Kobakhidze claimed that the “so-called experts,” some of whom were former high-ranking officials, had disseminated pessimistic economic forecasts to foster public nihilism. He suggested that such actions could adversely affect consumer confidence and economic activity.

"They brought in specific people, so-called experts from abroad, but in reality they were not experts at all... through them they tried to create a difficult background, to establish a mood of nihilism regarding economic trends," Kobakhidze noted.

Despite the assertions, Georgia's economic indicators remain strong, he claimed, adding the International Monetary Fund (IMF) had projected that Georgia's real economy will grow.

“The IMF's forecasts indicate that by 2029, Georgia will rank second worldwide in real GDP per capita growth and first in the Eastern Hemisphere. The country's GDP per capita is expected to increase by 71% compared to 2019”, he said. 

Kobakhidze emphasized that “such positive economic trends contradict the negative narratives propagated by these individuals.” He also highlighted the government's commitment to maintaining economic stability and growth, noting the accumulation of significant reserves and the National Bank's efforts in stabilizing the national currency.

"We will continue to take care of economic development, this is our top priority," he affirmed.

Kobakhidze further emphasized the importance of the rule of law in the country, asserting that “Georgia is a legal state where any violation of the law will be met with consequences.”

"Everyone has understood that Georgia is a legal state, the rule of law applies here. You break the law, you will receive a reaction," Kobakhidze claimed. He underscored that all citizens “must recognize the state's commitment to legality.” "A state cannot exist without the rule of law. We have had challenges in this regard over the past years... but today the situation is different. Any compromise regarding the rule of law is unacceptable," he added.

The PM also addressed ongoing geopolitical challenges facing Georgia, including the fact that 20% of its territory remained occupied by Russia. Kobakhidze claimed that, despite the existing challenges, certain groups had sought to create "artificial problems" for the country.

He further alleged that foreign funds, including those from USAID and the National Endowment for Democracy (NED), had been used to foster destabilization in Georgia. According to Kobakhidze, a scenario was developed that involved Georgia and Ukraine being drawn into a conflict with Russia. While the conflict between Russia and Ukraine materialized, Kobakhidze emphasized that Georgia did not become involved, “resisting direct and indirect pressure to do so.”

"There were two countries neighboring Russia, which were not protected by the umbrella of any alliance... Both had the status of aspirant countries, and someone considered these two countries for war against Russia. Such a scenario was written," Kobakhidze explained.

He claimed that after Georgia refused to engage in the conflict, it faced a campaign of "aggression" designed to create internal instability, funded by international organizations. "There is our small country, which already has its own problems… and at such times, someone is free to concentrate entirely on creating artificial problems for our country," he claimed.