BAKU, Azerbaijan, September 28. Georgia's economy is showing a strong economic performance, Trend reports citing the September report of the European Bank for Reconstruction and Development (EBRD).
According to the EBRD, Georgia is benefiting from an inflow of Russian businesses and information and communication technology (ICT) professionals, boosting the service sectors.
A pick-up in tourism, which has almost reached pre-pandemic levels, and an increase in money transfers are supporting Georgia's robust economic growth of 10.3 percent in the first 7 months of 2022.
"These trends have helped to cover Georgia’s trade deficit and supported the appreciation of the lari, leading to an increase in foreign reserves," the EBRD said.
In addition, the EBRD noted that Georgia’s economy is projected to post growth of 8 percent in 2022, with a slowdown to 5 percent next year.