Macro - Country Economic Forecasts - Georgia
Georgia's economy performed strongly in H2 2023 by growing 7.5%, beating our forecast. We expect growth will moderate in 2024 but remain very healthy at 5.3%, up from our previous forecast of 4.1%. Solid foreign inflows are reinforcing domestic spending, which has proved resilient to tight monetary and fiscal policies. Inflation is well controlled, so the National Bank of Georgia has started its rate cutting cycle, which will further support growth. Downside risks are mainly linked to the external environment.
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