Azernews.Az

By Jamila Babayeva

Georgia's economic growth will reach five percent in 2014 despite external risks.

Resident Representative of the International Monetary Fund (IMF) in the South Caucasus Azim Sadikov made the remark talking to local media.

Sadikov said the economic growth has started in the fourth quarter of 2013, which led to big budget spending.

"Also, the National Bank has conducted a reasonable monetary policy," he noted.

Speaking about the inflation rate, Sadikov said the rate will reach six percent by the end of the year. "But there are external risks, which may impact on the economy. In particular, the Russian-Ukrainian political crisis and slower growth of the Turkish economy," he said. "Money transfers from these two countries account for half of all transfers of Georgia, which is 10 percent of GDP."

The Georgian government expects a five percent GDP growth in 2014. The economic growth was 3.6 percent in 2013.

IMF executive director for Dutch and Belgium group of countries Menno Snel recently expressed confidence that Georgia will reach planned economic growth indicator as all the prerequisites exist in this regard.