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Azim Sadikov: Georgian Economy Demonstrated Resistance to Shocks

The International Monetary Fund (IMF) forecasts that the Georgian economy will grow by 2.5% in 2016 and by 4.5% in 2017. The IMF representative Azim Sadikov told the Business Contact.

The current year will not be simple, but the stabilization signs are evident.

“In the last year the growth pace made up 2.8%, more than we had forecast. Despite considerable external shocks the Georgian economy has demonstrated resistance to external challenges and steadiness unlike many other developing countries, which fell into panics or took additional debts.

However, the economic growth remains decelerated and this year we forecast 2.5% growth or a little more growth. In 2017 we expect 4.5% growth, but all these indicators depend on many factors, including the developments in the neighboring trade partner countries.

The year of 2015 brought many problems to the region. The current year will not be simple, but the stabilization signs are evident and after the stabilization period, the economic growth restoration period will start”, Sadikov noted.