Page 12 - GEORptApr20

Georgia began 2020 with robust 5.1% growth in January
“In addition, the government is allocating GEL300mn in capital expenditure and infrastructure projects,” the PM said.
Meanwhile, Georgia’s GDP growth in January stood at 5.1 % y/y, according to preliminary estimates from statistics office Geostat.
The Georgian economy expanded by 5.2% in 2019, accelerating from the 4.8% seen in each of the previous two years. The growth rate eased to 3.8% y/y in December, according to the statistics office’s rapid estimate.
3.2 ​Macro outlook
Coronavirus fallout
Major investment bank G&T saw Georgia’s 2020 GDP growth at 4.7%
Georgia must brace for a significant economic impact from the coronavirus crisis on the immediate horizon but, provided the epidemic is contained within a relatively short period of time, healthy long-term trends in the small country’s economy that appear to have set in might limit the damage.
The Georgian Dream-led government knows full well that the economy is already suffering from extensive travel bans imposed as regards China—the epicentre of the outbreak—and South Caucasus neighbour Iran—which by March 6 reported 4,747 coronavirus infections and well over 100 deaths. The hindering of trade flows and contacts is inevitable.
Meanwhile, major investment bank in Georgia, Galt & Taggart (G&T), expected the country to see growth of 4.7% in 2020 amid “fiscal acceleration during elections”, Lasha Kavtaradze, head of its macroeconomics analysis and forecasting told Businiss Media in an interview on January 19. The World Bank remains on the conservative side—it anticipates Georgia will record a GDP gain of 4.3% this year, according to the latest edition of its Global Economic Prospects report issued on January 9.
12​ GEORGIA Country Report ​April 2020 ​ ​www.intellinews.com