World Bank: Georgia’s economic growth to drop to 2.5%

Baku, April 11, AZERTAC

The Georgian economic growth is expected to slow to 2.5 percent in 2022 due to ongoing hostilities in Ukraine, the World Bank’s Europe and Central Asia Economic Update said, according to Agenda.ge.

The report from the World Bank, which had forecasted a 5.5 percent growth of the Georgian economy in 2022 in its report Global Economic Prospects 2022, noted the baseline outlook envisioned growth recovering in the country from 2023 onward due to “easing monetary policy, recovery of tourism, and the restoration of economic links.”

The latest data on real Gross Domestic Product shows the Georgian economy increased by 14.6 percent in February 2022 year-on-year and by 16.3 percent in January-February 2022, the National Statistics Office of Georgia revealed.