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Asian Development Bank Expects GDP Growth to 4.5% in Georgia

Asian Development Bank (ADB) expects Georgia’s GDP growth to mark 4.5% in 2018 and 4.7% in 2019.

The 2018 growth will be lower compared to 2017, the ADB report reads.

“Coming reforms in pension system and capital market will encourage investments and savings. Forecast worsening risk is related to expected export deterioration as a result of economic delay economy among Georgia’s trade partners”, the report reads.

Exports from Georgia is characterized by much concentration. The country should activate efforts in terms of service exports, including in business, information and computer directions and tax reforms are required to this end, ADB report reads.

“Georgia should perform much more job to introduce new technologies in business sector”, the report reads.