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%.
