World Bank forecasts 4.2% economic growth in Georgia in 2018
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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.
The European Bank for Reconstruction and Development (EBRD) has revised its 2017 economic growth forecast for Georgia and said that the country’s economy in 2017 as well as in 2018 will experience a faster growth than previously expected.
The Asian Development Bank (ADB) is moving its forecast up and saying the Georgian economy will grow by 4.2 percent in 2017 and 4.5 percent in 2018.
Georgia experienced 4.7 percent economic growth in the second quarter of 2017, show the latest data from the National Statistics Office of Georgia (Geostat). In Q2 of 2017 the largest shares of GDP by activity are held by Industry and Trade services.
Georgia’s economy will grow by four percent this year, believes the country’s Finance Minister Dimitry Kumsishvili. At today’s Ambassadorial 2017 – an annual gathering of the heads of Georgian Diplomatic Missions abroad – Kumsishvili talked about Georgia’s economic developments within the framework of the Conference on Economic Diplomacy.
Georgia’s economy to grow 4-6% in 2018
Georgia’s economy will grow between four to six percent in 2018, believes analyst at the Economist Intelligence Unit Max Lambertson.
Georgia will have one of the highest economic growth rates in the region in 2018-2022, asserts Georgia’s Economy Minister Dimitry Kumsishvili. At today’s Georgia-Belarus Business Forum, Kumshishvili said that in 2017 Georgia’s economic growth rate was higher than expected.
Georgia’s Prime Minister Giorgi Kvirikashvili is optimistic about the country’s economic performance this year and predicts "very good indicators” by the end of 2018.
Tbilisi will host the meeting of the World Bank executive board for the first time in May this year, Georgia’s Finance Minister Mamuka Bakhtadze said after meeting with the World Bank Group’s Executive in Washington DC yesterday.
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 World Bank has published a report titled Migration and Brain Drain 2019, in which it touches on economic conditions across the world prompting migration and brain drain.