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World Bank Predicts Acceleration in Georgia’s GDP Growth Rates

The World Bank (WB) predicts the acceleration in Georgia’s GDP growth rates in 2016-2018.

Georgia’s GDP growth is projected at three percent in 2016, 4.5 percent in 2017, five percent in 2018, the WB annual report “Global Economic Prospects” said.

Georgia’s GDP growth reached 2.5 percent in 2015 compared to 4.8 percent in 2014 and 3.3 percent – in 2013.

The World Bank is an international financial institution that provides loans to developing countries forcapital programs. It comprises two institutions: the International Bank for Reconstruction and Development(IBRD), and the International Development Association (IDA). The World Bank is a component of the World Bank Group, which is part of the United Nations system.

The World Bank’s official goal is the reduction of poverty. According to its Articles of Agreement, all its decisions must be guided by a commitment to the promotion of foreign investment and international trade and to the facilitation of Capital investment.