Georgian Finance Minister revises 2021 growth outlook down to 4%

Georgian Finance Minister Ivane Matchavariani said that the new restrictions imposed by the government today give ground to revise the economic growth rate of 2021.

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The 2021 state budget was planned with a 4.3 per cent economic growth forecast, however Matchavariani said that there was 'a significant decline in revenues' in November and January and February will be 'severe' because of the new restrictions, which will affect economic growth next year.

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However, Matcahavariani said that the coronavirus vaccine is a positive factor and if taken in time in the second half of 2021 the economy will recover.