IMF: Baku-Tbilisi-Kars railroad boosts Georgia’s transit prospects

3 November 2020 11:26 (UTC+04:00)

By Trend

As the Georgian economy reopens, domestic demand is expected to pick up and the agricultural sector has been doing well, the International Monetary Fund (IMF) Mission Chief for Georgia, Mercedes Vera-Martin told Trend.

"More broadly, we see opportunities in participating in regional value chains, given the logistical location of Georgia and free-trade agreements with China and Europe," Vera-Martin said.

According to her, transit and logistics remain a priority sector as Georgia seeks to benefit from increased East/West trade through the country. The Baku-Tbilisi-Kars (BTK) railroad has also boosted Georgia’s transit prospects.

"We also expect a recovery in the tourism and hospitality sector over the medium term," Vera-Martin said.

As she noted, Georgia continues to manage the pandemic successfully—Georgia was included in the list of EU acceptable countries— the country could become an attractive destination once tourism resumes.

According to Vera-Martin, measures taken by the National Bank of Georgia (NBG) in recent years improved the banking sector's capacity to withstand shocks.


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