World Bank Cuts Georgian Growth Forecast

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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