ECONOMY

IMF forecasts 5% economic growth for Georgia in 2021

14.10.20 17:00


The International Monetary Fund (IMF) says the Georgian economy will shrink by 5%  in 2020 but will increase by 5 % in 2021.

 

The IMF forecast coincides with the economic growth forecast set by the Georgian government.

As for Georgia’s neighbouring countries, the IMF predicts that in 2020 the economy in Azerbaijan will shrink by 4 %, in Armenia –  4.5 %, in Russia – 4.1 %, in Turkey – 5 %.

 

In 2021, the economy will grow by 2 % in Azerbaijan, 3.5 % in Armenia, 2.8 % in Russia and 5% in Turkey.

 

The IMF forecasts a 7.2 % decline in EU countries’ economy this year. However, in 2021, it will increase by 4.7 %.

 

 

source: 1TV

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