Ministry of Finance: All allegations on termination of cooperation with our partners and, moreover, on changes in the reform agenda are unfounded

According to the Ministry of Finance of Georgia, all statements about the termination of cooperation with international partners and, moreover, the change of the reform agenda are unfounded.

The Ministry explains the reason for the refusal of the EU loan this year and says that due to high economic growth, tax revenues have increased in the country, which will allow us to reduce the borrowing rate faster. However, the agency notes that in the coming years, active cooperation will continue with international partners and financial resources will be attracted to finance the reforms and infrastructure projects needed for the development of the country.

"The Georgian government has been actively cooperating with international financial institutions and donors in recent years to attract the financial resources needed to finance the reforms needed for the country's development and infrastructure projects. As a result of the support provided by financial institutions and donors, a number of structural reforms have been implemented in the country.

Georgia has had a very successful program with the International Monetary Fund and enjoyed high confidence in international financial institutions. As a result, the country attracted a total of more than $ 2 billion in aid, which enabled us to fully fund pandemic response measures and maintain macroeconomic stability.

Cooperation with our partners will continue in the future and a number of important projects are planned to be carried out with their funding.

As for the loans to be received from the EU this year - due to high economic growth, tax revenues have increased in the country, which will allow us to reduce the borrowing rate faster.

As it is known, as a result of the changes in the 2021 budget, we have already reduced the domestic debt and this year we will cover the domestic debt in the amount of 150 million GEL. The additional revenues will allow us to partially reduce our foreign debt in 2021, but in the coming years we will continue to actively cooperate with international partners and attract financial resources to finance the reforms and infrastructure projects needed for the country's development.

Therefore, all allegations on termination of cooperation with our partners and, moreover, on changes in the reform agenda are unfounded," reads the statement.