EBRD forecasts Georgia's economic growth at five per cent
Georgia, Tbilisi, Jan.26/ Trend, N. Kirtskhalia /
The European Bank for Reconstruction and Development (EBRD) forecasts a five per cent GDP growth in Georgia in 2012, according to the bank's review on the economic prospects for Central, Eastern and South Eastern Europe, the Baltic and the Caucasus. In October 2011, the bank forecast a four per cent GDP growth in Georgia in 2012.
Georgia's GDP growth in 2011, according to the bank, hit six per cent (EBRD October forecast envisaged growth at five per cent).
According to January review, the Georgian economy continues to recover from the double crisis of 2008-2009, hostilities and a financial crisis. The bank's analysts indicate that the 'uncertainty of external environment and a large share of non-performing loans in the financial sector are one of the major risks to Georgia'.
The Georgian government forecasts GDP growth in 2012 at five per cent. Statistical data on economic growth in 2011 has not yet been published. However, according to preliminary estimates, the country's GDP grew by 6.8 per cent in 2011.