Home / Economy / Georgian economy will grow by more than 4%

Georgian economy will grow by more than 4%

Georgian Government expects more than four percent growth of economy in 2015, announced Finance Minister Nodar Khaduri at the Government’s Meeting today.

Yesterday the Government specified the current year’s economic growth forecast not only in Georgia but in the neighbouring countries and declared that all of them will have stagnation in their economies.

“0 percent growth is fixed in the economies of Armenia and Moldova. Russian economy will collapse this year as well. Belarus will experience 0 percent economic growth. Azerbaijani economy will grow by -1, 5 percent. As for Georgia, our economy will grow by more than four percent,” Khaduri said.

This year it was forecasted that Georgian economy would experience five percent growth. The forecast was changed due to Georgian national currency Lari depreciation, which still continue tumbling after slight strengthen.

Currently the official rate is 1.9977 GEL to 1 USD while it was 1.9933 GEL yesterday.

Because of Lari depreciation the National Bank of Georgia was going to tighten monetary policy to control the economy. However, Nodar Khaduri explains that Lari has been strengthening already and there is no need the National Bank of Georgia to involve in this process. He added that Lari is one of the most stable floating exchanges in the region.

Khaduri expressed his hope that Lari will maintain its stability.