FEDERATION OF EURO-ASIAN STOCK EXCHANGES
ANNUAL REPORT JUNE 2013
GEORGIAN STOCK EXCHANGE
CAPITAL MARKET DEVELOPMENT
AND ECONOMIC OUTLOOK
According to the World Bank forecast GDP
growth in 2014 can reach 6.3%. This forecast
is subject to risks. On the upside, there is
the possibility of further increase of trade
with Russia and of new sources of foreign
investment. However, if the demand from
trading partners falters, then growth could be
lower. Current account balance is forecasted
as -7.1% of GDP, which is 0.3% improvement
compared to the previous forecast. According
the IMF forecasts, average Inflation in 2014 will
be around 4.5%.
The 2014 budget is socially oriented yet
prudent. It increases social spending to protect
the most vulnerable, while continuing with the
path of fiscal consolidation. Public debt is 30.1%
of GDP. The fiscal deficit is projected to be
2.9% of GDP in 2014. This is consistent with the
medium-term strategy to bring the deficit down
to about 1.4% of GDP by 2017 and should keep
Georgia’s government’s debt-to-GDP ratio on a
firm downward path.
In the program of the Georgian Dream - the
2012 parliamentary elections and 2013
presidential elections winner coalition,
and, respectively, in the new Government’s
plans important place is devoted to further
improvement of the investment environment
and implementation of the pension reform in
the country. This provides grounds for optimism
and new momentum for development of the
Georgian capital market.
As for the business climate in the country, the
country has made remarkable strides over
the last few years—the World Bank’s Doing
Business Index ranks Georgia as 8th in the
world, first in Eastern Europe and Central Asia
and first among lower middle-income countries.
Key Information Contacts
National Bank of Georgia www.nbg.gov.ge
Ministry of Finance of Georgia www.mof.ge
Georgian Central Securities Depository www.gcsd.ge
Georgian Corporate Directors Association www.gcda.ge
CONTACT INFORMATION
Contact Name Mrs. Ketevan Magularia
E-mail [email protected]
Website www.gse.ge
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