Gov’t projects 4.5% economic growth in 2019

  • The government’s forecast for 2020 is 5% economic growth, while for 2021 – 5.5% and for 2022 – 6%. Photo: N. Alavidze/, 1 Oct 2018 - 16:07, Tbilisi,Georgia

The government of Georgia projects Georgia’s economy to reach 4.5 per cent growth in 2019, as determined in the 2019 state budget project.

The government’s forecast for 2020 is five per cent economic growth, while for 2021 – 5.5 per cent and for 2022 – six per cent.

As for the year 2018 the forecast was 4.5 per cent and the government plans to revise this economic growth forecast and raise it to five per cent.

Meanwhile, the International Monetary Fund projects Georgian economy to grow 5.5 per cent this year and 4.8 per cent next year.

The Asian Development Bank has recently raised Georgia’s 2018 growth forecast to 4.9 per cent  from the April estimate of 4.5 per cent, reflecting strong growth in tourism and robust investment after an increase in business and investor confidence.