IMF Lowers Forecast for Georgia’s Economic Growth to 2.5%

TBILISI – The International Monetary Fund on Wednesday lowered its forecast for Georgia’s economic growth by half a percentage point from 3 per cent to 2.5 per cent.

The IMF also said that it had revised down its prediction for Georgia’s economic growth from 5 per cent to 4.5 per cent in 2017.

Inflation in the country is expected to reach 4.3 per cent in 2016 and 4.5 per cent in 2017.

The IMF also lowered its projected global economic growth rate for 2016 to 3.2 per cent from 3.4 per cent, and 3.5 per cent from 3.6 per cent in 2017.

The forecast states that the world economy is lumbering in its overall growth and risks a long stagnation period.

By Ana Akhalaia
Edited by Nicholas Waller