19.Apr .2021 12:00

Economy to grow by 4%, if there is not another new lockdown – TBC Bank

Economy to grow by 4%, if there is not another new lockdown – TBC Bank
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“We think that economy can grow by 4% this year. But, this forecast excludes a new COVID-related lockdown”, - Giorgi Tkhelidze, Deputy General Director of TBC Bank told Forbes Week.

Giorgi Tkhelidze notes that in order to reduce the spread of the virus, it is necessary to show maximum caution. At the same time, Giorgi Tkhelidze focuses on the acceleration of vaccination pace and carrying out a public campaign on taking COVID jabs.

"In order to complete the vaccination late this year, it is necessary to rollout the COVID jabs as soon as possible and public campaign on vaccination is necessary to overcome this crisis. On the other hand, we should try our best to avoid a third long-term lockout and in this case, reaching 4% growth is realistic. Therefore, adaptation, protection and rapid vaccination is very important, "- said Giorgi Tkhelidze.

On April 6, the International Monetary Fund lowered its economic growth forecast for Georgia. The IMF expects the country to recover by only 3.5% this year, when a 4.3% increase was expected in the previous forecast. The Georgian government maintains a 4.3% growth forecast.