The World Bank today released an updated forecast for Georgia's economic growth. Instead of 4.3%, the organization expects 6% economic growth in Georgia this year.
The World Bank's update of Georgia's economic growth forecast is possibly related to the recent report from Geostat, which shows that in April country had a record high 44.8% economic growth.
According to the new report, the World Bank expects 5% economic growth in Georgia in 2022 and 2023.
A few days ago it became known that the Georgian government will change the target of economic growth this year and it will be 6.5% instead of 4.3%. In addition, the budget is planned to be adjusted taking into account the higher-than-expected economic activity.
The World Bank has also updated its forecast for economic growth in the region - 3.4% growth is expected in Armenia in 2021, 2.8% growth in Azerbaijan, 5% growth in Turkey, 3.2% economic growth in Russia and 3.8% growth in Ukraine Is expected.
