It will be a good year for Georgia's economy, although there are many foreign and domestic factors that will affect this issue, - Irakli Kovzanadze, the chairman of the Finance and Budget Committee told TV program "Business Morning" while speaking about the expectations for 2023.
"In general, I believe that we will have a good 2023. The budget is conservatively planned, we have set a 5% increase, but there are many domestic and foreign factors that I think will affect the economy of Georgia.
From the external factors, I will name four issues - first of all, the Russia-Ukraine war, this is the first factor in my opinion, next are the energy carriers and their prices, as well as the central banks - the Federal Bank, the European Central Bank, the Bank of England and the Bank of Japan will tighten the monetary credit policy and finally, what kind of economic growth China will have because we know that China has a low economic growth so far.
As for domestic factors - one of the main issues is the reduction of the budget deficit, I will have coordination on this, and not only coordination but also strict control, as well as strict monetary and credit policy and reduction of inflation. I do not rule out that monetary policy tightening is also necessary, the next factor will be the implementation of infrastructure and energy projects, the reform of state enterprises - these are the factors that I think will have an impact and which have a prerequisite for their implementation", said Irakli Kovzanadze.
