BAKU, Azerbaijan, April 11. In the background of the increase observed in several of Georgia’s economic sectors, the country’s GDP growth in 2022 is estimated at 5.5 percent, Trend reports via a weekly macroeconomic review from the TBC Capital.
According to the report, the positive outlook is supported by the substantial increase in the tourism sector, both in arrivals and revenues, as well as in trade turnover.
However, TBC Capital noted that it will be hard to achieve high exports growth, nevertheless, a 20-percent year-on-year growth is very much expected. Also, the increase in transportation services is considered due to cargo redirection, with additional revenues of $80 million.
“Regarding the imports, higher prices are also a driver, however, to less extent, while the real growth should be marginally positive on the back of still strong economic activity. This looks to be the case even when imports are adjusted for likely lower investment demand due to higher uncertainties. Other than the investment component, the credit growth should be still strong,” TBC Capital said.
Meanwhile, the remittances in Georgia have demonstrated resilience, so the bank does not consider any heavy decrease in the long term.
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