Finance Minister: int’l organisations forecast 3-4% economic growth for 2021

The International Monetary Fund (IMF) and the World Bank forecast Georgian economic growth to be three-four per cent by 2021, said Georgian Finance Minister Ivane Matchavariani.

• International Monetary Fund forecasts 3% economic growth in Georgia in 2021

Average annual growth of five per cent in recent years is not a small number. We had more than five per cent over the last two-three years,” said Matchavariani.

• Georgian economy grows 5.1% in 2019

He expressed hope the country will return to its prior economic growth rate soon.

Matchavariani said that the positive forecast of the international organisations on Georgian economic growth is due to the country's solid economic indicators and the economic resilience Georgia has displayed in recent years.

He noted Georgia’s success in combating the coronavirus crisis and said that the positive forecasts are tied to how the country was developing before the crisis and how effective the anti-coronavirus measures have been.

Due to the coronavirus crisis the IMF projected Georgian economic growth to fall four per cent this year. The World Bank said the economic growth of the country will be close to 0 per cent in 2020 amid the coronavirus outbreak.