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Asian Development Bank Increased Georgia’s Forecasted Economic Growth Index

29 September 2017 | Friday

Asian Development Bank has increased the forecasted economic growth index for Georgia from 3.8% to 4.2%. In 2018, the ADB is expecting 4.5% economic growth in Georgia.

According to the ADB report, Georgia is ahead of such regional countries as Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan and others.

The increased forecasted growth indicator by the ADB is conditioned upon the increased funding of infrastructural projects in Georgia as well as the increased tourist flows, money transfers and improved export indicators.

The Deputy Minister of Economy and Sustainable Development, Nino Javakhadze, states that the ADB report positively evaluated the on-going economic processes in Georgia.

“Georgia, compared to other countries of the region, has better handled the foreign shocks of the previous years and it is due to the right policy and the fluctuating exchange rate. The document also deals with the ongoing reforms in Georgia aimed at improving of transport and logistical competitiveness, which will ultimately increase the export growth and reduce the current deficit,” – Nino Javakhadze stated.

The revised forecast also covered the Georgia’s neighboring countries and a decrease of 1.3% is determined for Azerbaijan while Armenia’s economic growth is estimated to be of 3.8%, according to Ministry of Economy and Sustainable Development of Georgia.

Source: Finchannel.com

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