IMF expects economic growth in Georgia

Georgia Materials 13 October 2021 17:49 (UTC +04:00)
IMF expects economic growth in Georgia

BAKU, Azerbaijan, Oct. 13

By Maryana Akhmedova – Trend:

The International Monetary Fund expects 7.7 percent economic growth in Georgia in 2021, Trend reports via Georgian media.

The IMF expects the Georgian economic growth rate to slow to 5.8 percent and high inflation of 13.1 percent in 2022.

The Foundation notes that global recovery continues in the context of the COVID-19 pandemic.

The financial institution expects the world economy to grow by 4.9 percent in 2022, which is 0.1 percentage points lower than the July forecast.

The Foundation made an optimistic forecast in the September 21 review, based on several factors, including the improvement of remittances and exports, and expectation of the tourism sector recovery.

The Fund named COVID-19 strains and vaccination delays as a significant risk. One of the challenges was the high rate of dollarization. The government would have to return to the issue in the medium term and tighten lending measures in dollars, the Fund added.


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