BAKU, Azerbaijan, June 9
By Tamilla Mammadova – Trend:
The World Bank (WB) released an updated forecast for Georgia's economic growth, Trend reports via the WB.
Instead of 4.3 percent, the organization expects 6 percent economic growth in Georgia this year.
The World Bank's update of Georgia's economic growth forecast is possibly related to the recent report from Geostat, which shows that in April country had a record-high 44.8 percent economic growth.
According to the new report, the World Bank expects 5 percent economic growth in Georgia in 2022 and 2023.
A few days ago it became known that the Georgian government will change the target of economic growth this year and it will be 6.5 percent instead of 4.3 percent. In addition, the budget is planned to be adjusted taking into account the higher-than-expected economic activity.
The World Bank has also updated its forecast for economic growth in the region - 3.4 percent growth is expected in Armenia in 2021, 2.8 percent growth in Azerbaijan, 5 percent growth in Turkey, 3.2 percent economic growth in Russia, and 3.8 percent growth in Ukraine Is expected.
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