Int’l organisations forecast economic growth in Georgia
BAKU, Azerbaijan, May 7
By Tamilla Mammadova - Trend:
The International Monetary Fund (IMF) and the World Bank (WB) forecast Georgian economic growth to be three-four percent by 2021, said Georgian Finance Minister Ivane Matchavariani, Trend reports referring to Georgian media.
"Average annual growth of five percent in recent years is not a small number. We had more than five percent over the last three years,” said Matchavariani.
He expressed hope that the country will return to its prior economic growth rate soon.
Matchavariani said that the positive forecast of the international organizations on Georgian economic growth is based on the country's solid economic indicators and the economic resilience Georgia has displayed in recent years.
He noted Georgia’s success in combating the coronavirus crisis and said that the positive forecasts are tied to how the country was developing before the crisis and how effective the anti-coronavirus measures have been.
Meanwhile, due to the coronavirus crisis, IMF projected Georgian economic growth to fall four percent in 2020. The World Bank said the economic growth of the country will be close to 0 percent in 2020 amid the coronavirus outbreak.
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