BAKU, Azerbaijan, March 29. Georgian Government, in particular the Ministry of Finance, is already working with international financial organizations on correcting the previous forecast of 6 percent GDP growth for 2022, Trend reports via Georgian media.
Both Georgia’s and international financial organizations have evaluated their forecasts for Georgia’s economic growth. For example, the Renaissance Capital investment bank has estimated Georgia’s GDP growth in 2022 at 2-3 percent.
Georgia’s economic growth will more likely reach 2.5-3 percent in 2022, the President of the Banking Association of Georgia Alexander Dzneladze said.
According to Dzneladze, the hostilities between Russia and Ukraine will have an impact on both Georgia’s GDP growth and the banking sector portfolio.
“The banking sector portfolio will proceed with further growth, although it will be definitely less than expected. Earlier, we predicted the growth of the banking sector portfolio at 10 percent, which is not achievable in the current circumstances,” Dzneladze added.
Meanwhile, TBC Capital has shared two possible cases for Georgia’s GDP growth, which imply either growth of 3.5 to 4 percent (positive scenario), or -1.5 to 0.5 percent (negative scenario).
At the same time, the Policy and Management Consulting Group has assessed the forecast for Georgia’s economic growth at 4.9 percent, based on a survey conducted among Georgian economists.
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