BAKU, Azerbaijan, June 14
Trend:
Some 6.2 percent reduction in production showed that 2020 was economically difficult for Georgia, Trend reports citing Georgian media outlets.
Despite the fact that the gradual removal of restrictions and 44.8 percent growth in the economy was achieved in April, various organizations had to revise their own forecasts.
According to the updated forecast, growth by an average of 6.5 percent is expected by the Georgian government in 2021, which means that Georgia’s economy will recover by the end of the year.
Due to the process of economic activation and the removal of regulations, the Parliamentary Budget Office expects the economy to boost by an average of 6.8 percent this year.
Having stressed the removal or easing of regulations and the reduction of accidents, Investment bank Galt & Taggart predicts a 7-percent growth in economy this year.
Besides, according to the updated forecast published by The World Bank, Georgia's economy is expected to grow by 6 percent this year.