ADB Has Increased The Rate Of Economic Growth Of Georgia

ADB Has Increased The Rate Of Economic Growth Of Georgia

The Asian Development Bank (ADB) has increased the rate of economic growth of Georgia. This year, the Bank is expecting 4,2% economic growth in Georgia. ADB’s previous forecast, published by the Bank in spring, was 3,8%.

Om 2018, the Asian Development Bank is expecting 4,5% economic growth in Georgia. Besides, the Bank has also increased the forecast of the inflation growth rate and this year it makes 5,7% instead of previously estimated 4,2%.

Among the neighboring countries, ADB expects the highest growth in Georgia. According to the forecast of the Bank, economic growth will achieve 3,8% in Armenia and in Azerbaijan 1,3% economic decline is expected.

In the region of Central Asia, the highest growth is expected by the Bank in Uzbekistan and it makes 6,8%; in Turkmenistan the Bank forecasts 6,5% growth, in Tajikistan – 5% and 2,7% – in Kazakhstan.

ADB states that improvement of Georgia’s economic growth forecast has been positively influenced by increased infrastructural expenditures, which are expected to be retained also in 2018 as well as positive trends with regard to money transfers, incomes generated from tourism and foreign investments.

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