The Georgian economy is projected to grow 6% in 2021, 5% in 2022 and again 5% in 2023

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.

Source: https://agenda.ge/

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