National Bank predicts 10% economic growth in Georgia in 2022

The National Bank predicts 10% economic growth in Georgia in 2022. President of the National Bank Koba Gvenetadze announced the above at the briefing held today.

According to him, economic activity in Georgia is still strong.

"As a result of the Russia-Ukraine war and the accompanying sanctions, migration flows in Georgia have increased significantly, which has stimulated joint demand. The average annual economic growth in the first eight months of this year was 10.3 percent. Accordingly, the economic growth forecast has increased to 10 percent in 2022, and the average annual level of economic activity is likely to exceed its potential level. As a result, the inflationary risks arising from the demand intensified, despite the fact that this is partially balanced by the strengthened GEL exchange rate as a result of foreign inflows," said Gvenetadze.

For information, the economic growth forecast of the National Bank for 2022, which became known today, exceeds the forecast of the Government of Georgia. According to the forecast of the Government of Georgia, 8.5% economic growth is expected in 2022.

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