World Bank forecasts 5% economic growth for Georgia in 2019

  • With this forecast Georgia will be the leading country among its neighbours in terms of economic growth. Photo: N. Alavidze/, 10 Jan 2019 - 11:55, Tbilisi,Georgia

The World Bank forecasts 5% economic growth in Georgia in 2019, 5% in 2020 and again 5% in 2021, shows the Global Economic Prospects report of the World Bank.

As for Georgia’s neighbouring countries, Armenia will experience 4.3% economic growth, Azerbaijan – 3.6% growth, Russia – 1.5% growth and Turkey – 1.6% growth.

Compared to the previous report which was published in June 2018, the World Bank moved its forecast up by 0.8 percentage points for 2018 and by 0.2 percentage points for 2019.

World Bank data.

Deputy Economy Minister Ekaterine Mikabadze said the World Bank’s forecast is a recognition of the government’s reforms which are important for creating economic stability in Georgia.

Such an assessment positively affects the attitude of investors and their willingness to carry out commercial activities in the country”, said Mikabadze.

The World Bank report says that global growth is expected to slow to 2.9% in 2019.