The Georgian economy is projected to grow 6% in 2021, 5% in 2022 and again 5% in 2023, says the June edition of the World Bank’s report Global Economic Prospects 2021 .
According to the latest GDP data of April 2021 published by the National Statistics Office of Georgia the estimated real gross domestic product growth rate in April equaled 44.8% year-on-year and 8.1% in January-April of 2021 year-on-year.
Georgian Finance Minister Lasha Khutsishvili claims Georgia will be a country whose economy will recover one of the fastest in the post-pandemic period. He also said that the Georgian economy is expected to grow 6.5% in 2021, and 6.9% in 2022.
The World Bank report continues that overall the economies of the Europe and Central Asia region is forecast to expand a stronger-than-expected 3.9% in 2021, partly due to improvement in the euro area. However, the outlook remains challenging given the recent worsening of the pandemic, tighter macroeconomic policy, and elevated policy uncertainty and geopolitical tensions.