BAKU, Azerbaijan, Feb. 22
By Maryana Akhmedova – Trend:
Georgia’s GDP growth in 2022 will most likely be more than 5.5 - 6 percent, Trend reports via TBC Capital’s economic outlook.
According to the forecast, as Georgia’s trading figures improved significantly in January 2022, TBC Capital already predicts double-digit growth in January.
The dynamics of the remittances inflow, as well as the recovery of the tourism sector, also anticipates the high economic growth in Georgia, TBC Capital said.
According to the National Statistics Office, the unemployment rate in the fourth quarter of 2021 decreased by 1.4 percentage points to 19 percent. Therefore, TBC Capital forecasts the recovery of the employment sector to the 2019 level this year, or, at the earliest, at the beginning of 2023.
Although the wages figures for the fourth quarter of 2021 have not been published yet, it is likely that the average real wage will exceed the level of 2019 only during the first half of 2022, TBC Capital added.
Meanwhile, according to TBC Capital, in terms of the Georgian lari exchange rate, seasonally adjusted figures should also be taken into account.
“Overall, the trade balance, tourism sector recovery, and remittances inflow were the factors strengthening Georgian lari exchange rate in January 2022,” the report concluded.
---
Follow the author on Twitter: @mariiiakhm
