The IMF Names The Factors Why It Expects 4% Growth In Georgia In 2023

22:53 Fri, 24 March

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07.Nov .2022 17:00

The IMF Names The Factors Why It Expects 4% Growth In Georgia In 2023

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Author:Natia Taktakishvili

James John, head of the International Monetary Fund [IMF] mission, cites the factors why the fund reduces the forecast of Georgia's economic growth to 4% next year.

According to his own assessment, uncertainty in the world is very high.

"In October, our economic growth forecast for Georgia by 2023 was 4%, which remains unchanged. This is due to various factors, we expect some changes related to migration and other factors as well. I mean the complicated environment in the world, as well as the world economic growth and financial situation. Considering all these factors, we expect 4% economic growth in 2023.

In the medium term, we expect 5% potential economic growth in Georgia from 2024," he said.

According to the IMF report published in April of this year, 5.8% growth of the Georgian economy was predicted in 2023, however, on October 11, the organization reduced the growth to 4%.

IMF economic growth James John