Economy
Posted: 3 years ago

TBC Capital Predicts Possible Scenarios for Georgian Economy

According to the basic scenario, the economy will shrink by 4.5-5.5% in 2020 and grow by 4-5% in 2021, according to a study by TBC Capital, "The Impact of COVID-19 on the Georgian Economy."

The authors of the report have discussed three scenarios for economic recovery - rapid recovery; Basic; Late recovery.

In the event of a rapid recovery, the study’s authors suggest that the country’s economy will shrink by only 3% this year. According to the basic scenario, 4.5-5.5% decrease is expected, and in case of late recovery of the economy, the authors of the study consider the 10% drop in the country's GDP to be inevitable.