I Assume, We Will Revise The Outlook In A Positive Direction Late This Year - Molineus

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02.Dec .2022 14:00

I Assume, We Will Revise The Outlook In A Positive Direction Late This Year - Molineus

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Author:Natia Taktakishvili

I assume, we will revise the economic growth outlook in a positive direction late this year, -Sebastian Molineus, World Bank Regional Director for the South Caucasus told BMG.

"Most experts predict that Georgia will maintain double-digit economic growth this year as well. Our forecast is 8.8%, but I assume that by the end of the current year, we will revise our forecast in a positive direction.

Next year, in light of the current uncertainty and the expected slowdown of the economies of Europe and other main trading partners of Georgia, we expect a slowdown in the economic growth of Georgia.

At the same time, I would like to point out that the increase was caused by the influx of refugees, especially Russian citizens. I think that economic reforms played a big role in the growth. I believe that they will maintain stability and growth rate of Georgian economy. Let us remind you that ten years before the pandemic, the economy of Georgia was growing by an average of 5% per year, and we expect that in the future, Georgia will return to these numbers. Georgia has a history of strong structural reforms," Molineus said.

A few days ago, Prime Minister Irakli Gharibashvili said that Georgia would have 10% economic growth instead of 8.5%.

World Bank Sebastian Molineus