EBRD Adjusts Economic Growth Forecast for Georgia

TBILISI - The European Bank for Reconstruction and Development’ (EBRD) Director for the Caucasus, Moldova and Belarus, Bruno Balvanera, announced the bank would adjust its forecast for Georgia's economic growth potential upwards.

The EBRD did not provide exact numbers, but Balvanera noted that Georgia’s GDP growth potential could amount to more than 3 per cent this year.

According to the EBRD’s latest forecast from November 2015, Georgia’s GDP growth should amount to 2.6 per cent this year.

The EBRD’s newly revised forecast contrasts sharply with the International Monetary Fund’s April prediction that stated the county’s GDP growth potential in 2016 would slip from 3 to 2.5 per cent.

By Eka Karsaulidze
Edited by Nicholas Waller