Baku, Azerbaijan, October 16
By Tamilla Mammadova – Trend:
The International Monetary Fund (IMF) lowered its forecast for Georgia’s GDP growth for 2020 from 5 percent to 4.8 percent, Trend reports with reference to the International Monetary Fund’s (IMF) October World Economic Outlook (WEO).
In its report for August, IMF predicted GDP growth for Georgia by 4.6 percent, while in September the figure was 5 percent.
As for inflation, this year in Georgia the fund expects it to stand at 4.2 percent, and in 2020 - at 3.8 percent.
The target inflation rate of the National Bank of Georgia for 2019 is 3 percent, and the budget is recalculated based on inflation rate of 4.6 percent. In addition, according to the forecast, the current account deficit of the balance of payments will improve to 6 percent.
IMF mission visited Georgia September 11-17. Meetings were held with the Prime Minister, ministers of the economic bloc, the President of the National Bank and representatives of the private sector.