The International Monetary Fund (IMF) has cut its economic growth forecast for Georgia - the organization expects only a 3.5% recovery in the country this year, when the previous forecast was for 4.3% growth. The Georgian government maintains a 4.3% growth forecast.
According to the report, economic growth of 5.8% is expected in the country in 2022, and 5.5% economic growth is expected in 2023. The Georgian government has a similar forecast for the growth of 2022 and 2023.
If economic activity is lower than forecast this year, then the volume of tax revenues in the 2021 budget may be threatened.
According to the World Bank, the Georgian economy is unlikely to recover to the level prior to COVID-19 by the end of 2022.
