‘Stronger’ economy behind IMF's upgraded forecast, Gov’t Administration head

Head of the Government Administration Levan Zhorzholiani has said the International Monetary Fund's decision to raise Georgia's economic growth forecast to 6.5% reflected the country's strong economic performance and sustained investment inflows.

Speaking to journalists on Thursday, Zhorzholiani attributed the revised forecast to what he described as the government's economic policies, as well as increasing foreign investment over recent years.

Zhorzholiani added Georgia has posted strong economic results during the first four months of the year, contributing to a more optimistic outlook from international financial institutions.

"It is not surprising that the economic growth forecast has been increased, including by the International Monetary Fund," he said.

The government official noted that Georgia has recorded some of the highest economic growth rates in Europe over the past four years, arguing that the country's performance has been recognised by international organisations.

Zhorzholiani said the government's priority is to ensure that economic growth translates into tangible improvements in living standards and is felt across the wider population.