“We see that economic growth has two major challenges this year, as economic growth in Georgia may be lower than projected by the EBRD and the IMF," Eva Bochorishvili, head of the Galt & Taggart Research Department declared TV-program Analytics.
Eva Bochorishvili does not rule out slowdown of economic growth to 4% in 2020 and considers the specific factors:
“According to our base forecast, we expect the economy to grow at 4.7% this year. Our forecast is 4.7% by the next year, but there are several factors that can slow down economic growth to 4%, including: mitigation of monetary policy rate (i.e. if the interest rate will not does not decline in GEL) and parliamentary elections. This is our prediction”-, said Botchorishvili.
To note, the EBRD has released updated forecasts of Georgia's economic growth. According to the document, Georgia's economy is set to grow by 4.5% in 2019 and 2020.
To remind, the Georgian government also expects economic growth of 4.5% this year, while 5% in 2020. The International Monetary Fund expects lower economic growth in Georgia in 2020 than initially predicted. The IMF forecasts a decline from 4.8% to 4.3%.
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