Economy Minister pledges to maintain macroeconomic stability in Georgia

Maria Novoselova / Vestnik Kavkaza

Georgian Economy Minister Levan Davitashvili said the government would “maintain macroeconomic stability because of its highly responsible economic policy”.

The minister expected investors to “make objective decisions” based on the suggested stability of the domestic system.

According to him, the economy was “sensitive to general instability, including the political one”, and “various threats”, with short-term effects such as “interventions with the exchange rate”. However, the Minister expressed confidence in long-term economic prospects, saying he expected “stable development”.

Davitashvili also said despite “short-term concerns” among investors, they would recognise Georgia as a “reliable long-term economy” with “proper communication”.

"In recent years, the economy of Georgia showed this [trend], and it was one of the attractive environments for investors. We have received more than $5 billion in foreign direct investment over the last three years due to a favourable economic environment and trust. Investors were getting returns on their investments that they could not get in other economies”, Davitashvili said.

The minister noted the “primary goal” of the government was to “enhance the standard of living, reduce poverty and promote prosperity” in the country.

© Photo :Maria Novoselova / Vestnik Kavkaza