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World Bank Raised 2019 Growth Forecast for Georgia

According to the new prediction of the World Bank, Georgian economy will grow by 5% this year.

 According to the World Bank, Georgia will have the highest economic growth in the Middle East and Central Asian countries. Georgia’s economic growth will be one of the highest in the region. In addition, it is noteworthy that the World Bank’s forecast for economic growth has increased by 0.2 percentage points, while economic growth forecast for several countries has been revised by the reduction trend in the region. Despite the ongoing processes in the region, they are limited and their negative effects on the Georgian economy are small.

The World Bank publishes a report on global economic growth perspectives and economic growth forecasts twice a year – in January and June.

Georgia’s economic growth forecast has been improved by 0.8 and 0.2 percentage points by 2018 and 2019 compared to the report published in June 2018. To remind, like the World Bank, the International Monetary Fund and the Asian Development Bank have also increased Georgia’s economic growth forecast.