Finance minister disagrees with IMF’s forecast on rise in unemployment

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ნოდარ ხადური Photo: facebook.com/mofgeorgia

Finance Minister of Georgia Nodar Khaduri disagrees with the forecast provided by the International Monetary Fund (IMF). According to this forecast, the Georgian economy will grow by 2.5% in 2013, whilst the unemployment will increase by 1.7% and reach 16.7%. Moreover, the IMF expects a further increase in this indicator to 17.3% in 2014.

"Of course we worked [with the IMF] on these forecasts and do not agree with them. I am surprised about an absolutely unimaginable forecast of the IMF on the decrease in the employment rate. There was no communication on this issue with the Georgian government and the Finance Ministry at all. No actual data proves that this might be a problem," Khaduri said on 11 October.

According to official data of the National Statistics Service of Georgia, the unemployment stood at 15% at the end of 2012. Over the period from the fourth quarter of 2012 to the first quarter of 2013 inclusive, some 42,000 jobs were lost.

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