54298
Georgia GDP Growth Lowered
Georgia GDP Growth Lowered

Georgia GDP Growth Lowered

Georgia GDP Growth Lowered

The International Monetary Fund forecasts Georgia’s gross domestic product will grow 2.7% in 2016 and by 4% in 2017, the IMF said on Thursday.
The IMF had earlier predicted 3.4% growth in Georgia in 2016 and 5.2% in 2017, although its representative told Reuters earlier this month that its forecasts could be downgraded.
“The Georgian economy has shown resilience and continues to recover from the external shock, although at a slower pace than initially envisaged,” the IMF said in a statement after the fund’s mission visit to the country.
The ex-Soviet republic’s economy, which has suffered from falling exports and remittances and a plunge in the Russian ruble, expanded by 2.6% in the first nine months of the year, compared with the same period in 2015.
The IMF said that the Georgian authorities planned a comprehensive package of structural reforms, including those to mobilize domestic savings, diversify the economy and expand the use of the lari national currency in the economy.
“The authorities also aim to put in place an ambitious infrastructure program to promote trade and tourism while preserving medium-term fiscal sustainability,” the fund said.
“In addition, exchange rate and financial policies will continue to focus on maintaining a flexible exchange rate and preserving a sound financial system, enhancing the resilience of the economy to external shocks.”
The IMF projects average inflation in Georgia at 2% in 2016 and 3% in 2017.
The government targets annual inflation at 5% in 2016. Inflation was at minus 0.2% year-on-year in October, down from 5.8% the same month a year ago.

 

Short URL : https://goo.gl/am4unr
  1. https://goo.gl/G2nIkV
  • https://goo.gl/LhZ2on
  • https://goo.gl/Po4XKb
  • https://goo.gl/aLUrIh
  • https://goo.gl/BPrd4a

You can also read ...

An expanding trade war threatens to squeeze incomes.
The untold story of the world economy—so far at least—is the...
PwC Says Australian Firms Deliberately Going Broke
Companies that deliberately fail are costing the Australian...
Asian Stocks Retreat, European Shares Mixed
Asian stocks closed lower on Monday as investors digested the...
Chinese Premier Li Keqiang (C) shakes hands with Jean-Claude Juncker (L) and Donald Tusk after the meeting in Beijing on Monday.
China could open its economy if it wished, European Commission...
Experts Say China Can Cope With Uncertain H2
China is confident it can cope with a more uncertain second...
Russia has been seeking ways of decreasing dependence  on the US currency.
One of Russia’s largest banks, VTB is seeking to decrease the...
Global Growth Peaks With a Whimper
It wasn’t runaway inflation or a financial implosion. The...
Uncertainty abounds in Malaysia, where a two-month-old government is only starting to give  a clearer picture of economic policy.
For Southeast Asia's biggest economies, 2018 wasn't supposed...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus