Country Economic Forecasts - Georgia
A strong Q4 as coronavirus restrictions were eased lifted GDP growth above its pre-pandemic rate in 2021, to an estimated 10.8%, and this year will see a continued above-trend rate of about 7.7% as fast-recovering capital inflows combine with private investment and export growth. The 2022 budget is also expansionary, with re-balancing plans relying mainly on cyclical revenue gains. Although inflation moved further above target in Q4, ending the year at 13.9% and prompting another interest rate rise, it is forecast to fall sharply as the impact of last year’s energy, food and transport cost rises fade.
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