World Bank reveals forecast for Georgia’s GDP growth in 2022

Georgia Materials 12 January 2022 12:58 (UTC +04:00)
World Bank reveals forecast for Georgia’s GDP growth in 2022

BAKU, Azerbaijan, Jan. 12

By Maryana Akhmedova – Trend:

Georgia’s GDP growth for 2022 is projected at 5.5 percent, World Bank’s Global Economic Prospects Report said, Trend reports citing the WB.

According to the report, the projected GDP increased by 5 percentage points, compared to 0.5 percent projected in June 2021.

Georgia’s estimated GDP growth for 2021 is 10.5 percent as compared to negative 6.8 percent in 2020.

Furthermore, the same figure increased by 6 percentage points, compared to June 2021 projection (4.5 percent), the report said.

Meanwhile, the forecast of Georgia's GDP in 2023 is 5 percent, while the forecasts of June 2021 assumed zero growth.

“Georgia’s economy is projected to ease toward its potential growth rate in 2022 and 2023 amid tighter fiscal policy,” the WB said.

The regional growth is forecast to continue to ease in 2023, slowing to 2.9 percent, as fiscal support continues to be withdrawn. The boost from external demand is expected to fade in 2023, as global and euro area growth decelerate and commodity prices edge down.


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