World Bank forecasts 4.2% economic growth in Georgia in 2018

NBG noted the volume of money transfers from abroad constituted $91m Photo by N. Alavidze/, 10 Jan 2018 - 14:07, Tbilisi,Georgia

The World Bank raised its economic growth forecasts for Georgia, announcing 4.2 percent economic growth in 2018, 4.7 percent in 2019 and 5 percent in 2020.

With this forecast Georgia is one of the leading countries among its neighbours in terms of economic growth, shows the Global Economic Prospects report.

Compared to the previous report the World Bank moved its forecast up by 0.2 percent.

As for Georgia’s neighbouring countries, Armenia will experience 3.8 percent economic growth, Azerbaijan – 0.9 percent growth, Russia – 1.7 percent growth and Turkey – 3.5 percent growth.

The World Bank forecasts global economic growth to edge up to 3.1 percent in 2018 after a much stronger-than-expected 2017, as the recovery in investment, manufacturing, and trade continues.