Georgian TBC Bank shares predictions on country's economic performance

Business Materials 20 April 2021 09:17 (UTC +04:00)
Georgian TBC Bank shares predictions on country's economic performance

BAKU, Azerbaijan, April 20

Tamilla Mammadova – Trend:

Georgian TBC Bank thinks that country's economy can grow by 4 percent this year, said Giorgi Tkhelidze, Deputy General Director of TBC Bank, Trend reports via Georgian media.

But, this forecast excludes a new COVID-19 related lockdown, he said.

Tkhelidze notes that in order to reduce the spread of the virus, it is necessary to show maximum caution.

At the same time, Tkhelidze focuses on the acceleration of vaccination pace and carrying out a public campaign on taking COVID-19 jabs.

"In order to complete the vaccination late this year, it is necessary to roll out the COVID-19 jabs as soon as possible and a public campaign on vaccination is necessary to overcome this crisis. On the other hand, we should try our best to avoid a third long-term lockout, and in this case, reaching 4 percent growth is realistic. Therefore, adaptation, protection, and rapid vaccination are very important," said Tkhelidze.

On April 6, the International Monetary Fund lowered its economic growth forecast for Georgia. The IMF expects the country to recover by only 3.5 percent this year when a 4.3 percent increase was expected in the previous forecast. The Georgian government maintains a 4.3 percent growth forecast.


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