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Murtaz Kikoria: According to our Forecast, Economic Growth will Reach 5% in 2016

Murtaz Kikoria: According to our Forecast, Economic Growth will Reach 5% in 2016

The Bank of Georgia (BOG) forecasts economic growth to reach 5% in current year.

The general director of the bank Murtaz Kikoria announced to “Financial” that despite the chocks existed, macroeconomic stability has been achieved and the banking system has passed the test again.

“The Georgian economy passed the most difficult period. The facts such as the growth of number of tourists, the government’s new initiatives and the central bank’s new president create a positive mood in the business”.

“This attitude influenced the GEL, which allowed the National Bank to fill in the reserves.”

This is why our forecast for this year’s economic growth is positive and it exceeds the international rating agency Fitch-‘s forecast (2.5%).

“According to our forecasts, this year the economy growth will reach 5%”- said Kikoria.”