IMF improves Georgia’s GDP growth forecast
Georgia, Tbilisi, Oct. 11 / Trend N. Kirtzkhakia /
The International Monetary Fund increased its forecast for Georgia's GDP growth in 2012 from six per cent to 6.5 per cent, the IMF report World Economic Outlook as of October 2012 said.
According to the report, the growth of Georgia's GDP in 2011 was seven per cent and growth is expected to reach 6.5 per cent in 2012 and 5.5 per cent in 2013.
According to the Georgian Statistics Agency, GDP growth was 7.5 per cent in the first half of 2012. The previous Georgian government predicted GDP growth for 2012 at seven per cent.
According to the IMF report, the rise in prices in Georgia in 2012 will hit 0.2 per cent, while it reached 8.5 per cent in 2011. The forecast anticipates it reaching 5.5 per cent in 2013.
The account deficit of payment transactions in terms of GDP as of 2012 is projected at (-) 12.6 per cent and the unemployment rate at 14.2 per cent.