Home / Economy / EBRD Upgrades Georgia’s Economic Growth Forecast to 3.4%
EBRD Upgrades Georgia’s Economic Growth Forecast to 3.4%

EBRD Upgrades Georgia’s Economic Growth Forecast to 3.4%

The European Bank for Reconstruction and Development (EBRD) has upgraded Georgia’s economic growth forecast by 0.8 point.

According to the bank’s recent prognosis, Georgia’s economy will grow by 3.4% in 2016, up from 2.6% forecast released in November 2015.

The EBRD forecast is based on expectations from coming tourism season and strengthened investors confidence in the country after improved relations between the National Bank and the government of Georgia.

The EBRD forecasts 3.9% economic growth in 2017.