World Bank lowers forecast for Georgian economy growth for 2019

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Georgia's GDP will grow by 4.6% in 2019, the World Bank expects. In a review of the economic situation in Europe and Central Asia, the bank lowered its forecast for Georgia’s economic growth against a previously expected recovery by 5%, which is explained by a weakening of external demand, as well as measures taken by the National Bank to encourage responsible lending. In the future, World Bank expects the acceleration of growth rates: in 2020 - to 4.8%, in 2021 - to 5%. The medium-term growth of the Georgian economy will ensure increased investment and increased external demand, which is expected due to a more favorable economic situation in Azerbaijan, Russia and Turkey. According to World Bank's estimates, inflation in the country for the next 2 years will be kept near the target level of the National Bank of Georgia - 3%. According to the forecast of the Georgian government, the economy of Georgia will grow by 4.5% in 2019.  

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