Home / Economy / IMF Predicts Georgia’s Economic Growth will Reach 5% in 2020
IMF: Georgia’s Economy Stable but Faces Ongoing Risks

IMF Predicts Georgia’s Economic Growth will Reach 5% in 2020

The IMF published the new economic growth forecast. IMF retained Georgia’s economic growth rate forecast at  2%.

According to the new IMF forecast for 2015 and 2016, Georgia will have 2 percent economic growth in 2015 and 3 percent in 2016, while in 2020- 5 percent. The Fund  believes that the global economic growth in 2015 will be 3.1%, 0.3% less than in 2014 and 0.2% less than in the 2015 growth forecast published in July.

They also believe that economic recovery will begin slowly in developed countries, while activity in emerging economies is expected to be reduced. IMF analysts say  that due to  the slowdown in capital inflows and foreign exchange pressure, risks for emerging markets have  increased and therefore developing economies are  expected to start  growing since 2016.

As for Georgia’s  neighboring countries, the report says that Russia’s economic growth will slow down by 3.8%,  in Ukraine – by 9% , in Azerbaijan a  4% growth is expected, in Armenia economy will grow   2.5%, while in Turkey –  by 3%.