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Asian Development Bank Increased Georgian Economic Growth Forecast

Asian Development Bank Increased Georgian Economic Growth Forecast

Asian Development Bank (ADB) improved Georgian economic growth forecast.

According to the new report, the bank expects Georgian economic growth of 3% this year; the previous forecast has been 2, 5%. However, GDP growth forecast is grown from 3, 5% to 4% by the next year. In the same report, ADB predicts inflation of 3% instead of 5% in Georgia this year, which should be accelerated up to 4% by the next year.

As for the other countries of Central Asian Region, economic growth of 2% is expected in Armenia this year, Kazakhstan – 0, 1%, Kirgizstan – 1%, Tajikistan – 3, 8%, Turkmenistan – 5, 5%, Uzbekistan – 6, 9%. ADB expects economic decline of 2, 5% in Azerbaijan. The growth has been determined by 1, 5% in this region instead of 2, 1% supposed earlier.