ADB Predicts 5% Economic Growth in Georgia

The Asian Development Bank (ADB) has predicted a 5% economic growth in Georgia this year, and a 4.9% increase in 2020.

The prognosis is given in the Asian Development Outlook 2019 – Strengthening Disaster Resilience.

The outlook reads that the development of workforce skills will help Georgia strengthen the business environment and infrastructure building and this will in turn contribute to the attraction of investments in high-revenue sectors.

In addition, the ADB reports that export and consumption will contribute to economic growth. In 2019, growth will be detected in the financial sector with respect to the retail and wholesale trade. High investments will speed up the growth of agriculture to 2.8%.

The annual Asian Development Outlook analyzes economic performance in the past year and forecasts performance in the next two years for the 45 economies in Asia and the Pacific that make up developing Asia.

By Thea Morrison