The World Bank has published the economic growth data for the Europe and Central Asia region and its countries, including Georgia, under the conditions of the impact of Russia’s invasion of Ukraine and the consequences of the pandemic.
According to the report, the real growth forecast of Georgia's GDP in 2022 increased to 8.8% instead of the expected 5.5% rate, which is the highest one recorded in the Europe and Central Asia region.
The report says the volume of products made in the South Caucasus in 2022 will increase by 5.6% - which is the fastest pace among the sub-regions of Europe and Central Asia.
According to the report, the economic growth rate in Georgia is expected to slow to 4.2% in 2023, reflecting a weakening of the impetus for a strong recovery in 2022, a slowdown in the economic growth in the European Union, and a sharper-than-expected decline in the volume of the Russian products in 2023.
0
0
