BAKU, Azerbaijan, April 5. Georgia’s GDP growth is projected to be above 4 percent, Trend reports via the economic review from the TBC Capital.
Due to the hostilities between Russia and Ukraine, and the subsequent economic sanctions imposed on Russia, TBC Capital initially anticipated Georgia’s GDP growth to be around 3.5-4 percent.
However, according to the National Statistics Office of Georgia (Geostat), Georgia’s GDP growth in February 2022 amounted to 14.6 percent, and 16.2 percent - from January through February 2022, which is significantly higher than expect.
Thus, this allowed TBC Capital to envisage Georgia’s economic growth towards more positive trend in 2022. Moreover, the report says that the preliminary analysis of export and import prices, as a result of the restoration of the trade balance and tourism recovery allows supposing that the current account deficit will improve more.
Meanwhile, major financial institutions have diverse predictions for Georgia’s GDP growth in 2022. For example, International Monetary Fund expects Georgia’s economic growth at 3 percent, while the European Bank for Reconstruction and Development predicts Georgian economy to grow by only 2 percent.
Galt & Taggart investment bank expects the country’s economic growth at 4.5 percent in case international companies decide to move their office in Georgia. The National Bank of Georgia, in its turn, forecasts Georgia’s GDP growth at 3-4 percent.
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