Real growth forecast of Georgian GDP to hit 6 percent in 2013
Georgia, Tbilisi, Nov. 6 / Trend N.Kirtskhalia /
According to the state budget for next year, the real growth forecast of Georgia's GDP will hit six percent in 2013.
The explanatory letter to the draft law, which defines the basic macroeconomic indicators during the development of the draft budget for 2013, stated that the growth rate of the economy within this year and existing forecasts for the next year were taken into consideration during development of draft state budget.
"According to preliminary data of the past nine months, real GDP growth was 7.3 percent, and the deflator - 2.1 per cent. Taking this figures into consideration, the annual GDP growth forecast hits seven percent, while deflator is two percent. Given the current trends in the global economy, fiscal and macroeconomic indicators of the future are planned accordance with the conservative approach in the agreement with the International Monetary Fund (IMF), and, according to conservative approach, by 2013, the real GDP growth forecast will amount six per cent, while the deflator - 4.5 per cent, " the draft budget stated.
According to the project, based on macroeconomic parameters, the forecast of nominal GDP in 2012 was 26 443.7 million lari ($ 1 = 1.66 lari). In 2013, in nominal terms, Georgia's economy will grow by 2 848.0 million lari and GDP will hit 29 291.7 million lari.