Business Political Insights BPI.GE
TBILISI(BPI)- The World Bank has cut its outlook for the Georgian economy (by 0.5%) , predicting growth of just 4.3% in 2020 .
The slowdown stems from the factors such as Russian travel embargo on flights
The bank also reduced its forecast for 2021 – from 5% to 4.5%.
The International Financial Institute says that in 2019 the growth rates of the economies of Central Asia and Eastern Europe were the lowest in the last 2 years, especially in Turkey and Russia, where economic growth fell to 2%.
The average economic growth in the region will be 2.6% in 2020.
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