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Minister of Finance of Georgia to meet Representatives of International Financial Organizations

Published: October 4, 2011 | 10:49 am
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The COMMERCIAL TIMES

Dimitri Gvindadze, Minsiter of Finance of Georgia met with the representatives of international financial organizations- both, bilateral donors and financial institutions operating in Georgia. The meeting was held on October 4 at German House.

During the meeting the representatives of international financial organizations got informed on Georgia’s positive macroeconomic dynamic, budget sustainability, GDP growth and structural reforms. The topic of discussion was also the financial support allocated to Georgia since 2008 Brussels donors conference.

“Georgian government will continue implementing large-scale projects due to the contracted financial resources for the 2-3 years, meaning the country’s fiscal stimulation plan is followed. As for sectors, the financing will go to the construction of roads (Eastern-Western highway, internal roads) electric transmission lines, etc.,” declared the Minister.

3 years after the Brussels donors’ conference half of the USD 4.5 billion donor money is already spent in different projects and programs and most of the rest financing is contracted. The financial aid is given to Georgia as grant and part as long-term discount credit, which conditions the country’s fiscal sustainability.

 

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