Page 15 - GEORptSep18

4.3 Fixed investment
Georgia -Fixed capital investment 2011 2012 2013 2014 2015 2016 2017 1Q18
Gross fixed investment capital formation (GEL mn)
6,368.0 7,575.4 6,652.9 8,688.8 10,004.3 10,999.8 11,238.3 2,458.8
Gross fixed capital formation (% of GDP)
22.5% 24.8% 21.9% 25.8% 28.4% 30.4% 30.3%
Source: CEIC
IMF approves further $42.25mn loan to Georgia in wake of structural reforms
The IMF said on June 28 that it has approved a further $42.25mn loan to Georgia in the wake of the completion of structural reforms. The reforms support private sector development, improve fiscal performance and implement infrastructure projects.
The credit is the third tranche under a three-year, IMF programme totalling $285. Total disbursements stand at $130mn.
“Georgia has made notable progress under the IMF-supported programme,” Tao Zhang, IMF Deputy Managing Director and Acting Chair, said.
“All end-December quantitative performance criteria were met, most with significant margins, while most structural benchmarks have been implemented,” he said in a statement.
Zhang said that the former Soviet republic’s economic growth had been stronger than initially envisaged, inflation had declined, the fiscal and external positions had improved, and public debt continued to diminish, Reuters reported.
Important progress had also been made in implementing the structural reform agenda, but Georgia remained vulnerable to external shocks, including market volatility in major trading partners.
“Prudent macroeconomic policies and implementation of structural reforms are critical to address remaining vulnerabilities and promote higher and more inclusive growth,” Zhang said.
15 GEORGIA Country Report September 2018 www.intellinews.com