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International Monetary Fund projects Georgian economy to grow 7.7% in 2021, 5.8% in 2022

The International Monetary Fund (IMF) projects the Georgian economy to grow 7.7% in 2021 and 5.8% in 2022, reads the latest report titled World Economic Outlook: Recovery During a Pandemic.

With these indicators Georgia will have one of the highest economic growth rates in the region of the Middle East and Central Asia.

Georgian Economy Minister Natia Turnava said that according to the latest IMF report Georgia will maintain its leading position in terms of economic growth both in the region and in Europe for the next six years.

We will have the highest economic growth rate of 5.8%, almost 6% per year. This will allow us to overcome the negative effects of the pandemic very quickly, to overcome poverty and to make our economy more diversified and stronger", said Turnava.

As for Georgia's neighbouring countries from the same region, the IMF forecast the Armenian economy will grow 6.5% in 2021 and 4.5% in 2022 and the Azerbaijani economy will grow 3% in 2021 and 2.3% in 2022.

The Turkish economy is projected to grow 9% in 2021 and 3.3% in 2022, while the Russian economy will grow 4.7% in 2021 and 2.9% in 2022.


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