BAKU, Azerbaijan, Nov. 8
By Maryana Akhmedova – Trend:
The forecast for Georgian economic growth of 6 percent in 2022 is quite optimistic, which provides a real increase in the GDP of the country in 2022, compared to the pre-crisis 2019 level – by about 12 percent, Soso Archvadze, Georgian economic analyst, said, Trend reports, referring to his Facebook page.
The draft budget for 2022 defines the main parameters of the macroeconomic situation and development of the country for the upcoming year, and it is important that the document provides clear indications of the results of the current year and the starting conditions for 2022, the analyst said.
Georgian economy will see double-digit growth by the end of 2021 with high probability, while the growth over first 9 months of 2021 was 11.3 percent, Archvadze said.
Georgia has had such double-digit economic growth before: in 2003 (+ 11.1 percent) and in 2007 (+ 12.6 percent), Archvadze noted.
According to the revised version of the draft state budget, the GDP has increased by to 58.7 billion Georgian lari ($18.5 million), compared to the previously forecasted 58.4 billion Georgian lari ($18.4 million).
The volume of the GDP will increase by 6.3 billion Georgian lari ($1.9 billion), compared to the expected figure of 2021, and will amount 65 billion Georgian lari ($20.5 million).
“In the conditions of consistent reforms in the economy, consistent implementation of business support programs by the government and high business readiness, the parameters of the macroeconomic indicators of 2022 are absolutely realistic and have a very high potential for their implementation in the context of peaceful political processes,” the analyst concluded.
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