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IMF to Review its Forecasts for Georgia

Published: October 23, 2013 | 3:22 pm
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The International Monetary Fund’s permanent representative in Georgia Azim Sadykov has stated in an interview for TV3 that the IMF would be reviewing its forecast with regards to reduced economic growth and increased unemployment in Georgia at the end of the year. Earlier, the IMF had reduced its forecast for the country’s economic growth for this year to 2.5%, and predicted that the unemployment figure would reach 17.3% in 2014. The Finance Minister Nodar Khaduri has categorically disagreed with these figures. According to Mr. Sadykov, producing forecasts of this nature is a difficult process, and the IMF is waiting to obtain more precise statistics on the country’s GDP and unemployment figures at the end of the year.
Azim Sadykov has added that the IMF is constantly consulting with the Finance Ministry, and is taking the latter’s recommendations into consideration.

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