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Galt&Taggart Submits Higher Economic Growth Forecasts than IMF

Galt&Taggart Submits Higher Economic Growth Forecasts than IMF

Galt&Taggart has announced more optimistic economic growth forecasts as compared to the International Monetary Fund (IMF).

Archil Gachechiladze, Head of the investment bank supervisory board, told the Business Contract that the Georgian economy is influenced by regional tendencies and largely depends on neighboring countries, Turkey and Russia, as their shocks are transmitted to neighboring countries too.

Archil Gachechiladze forecasts the situation to improve and expects 5-8% economic growth in the nearest years. There are real chances to get back to this corridor of economic growth, he said.

The IMF new forecasts for global economic growth is pessimistic and makes up 3.1%, following slowdown in economic growth and demand, unexpected factors, including Brexit.