In June, the TBC Capital analytical group evaluated the impact of the COVID-19 pandemic on the Georgian economy.
Following the TBC Capital, the basic scenario says that Georgia's economic growth forecast for 2020-2021 has not changed.
Namely, in 2020 the economy is projected to shrink by 4.5-5.5%, and in 2021 the economic growth will reach 5.0-6.0%.
The forecast for tourist flow for 2020 has worsened compared with the previous evaluation.
Experts say a sharp depreciation of the GEL exchange rate is unlikely since the currency will be supplied by the National Bank and the Government of Georgia.
"Compared to February 2020, 11% of wage earners were not credited, equaling 91,000 people. Relatively sharp reductions show up in the HORECA (hotel/restaurant/cafe) and trade sectors. In the residential real estate market, a gradual normalization of sales is observed. The pace of bookings in the hotel sector is growing, mainly due to domestic tourism. Nevertheless, against the backdrop of a delay in opening borders, sector expectations for 2020 have worsened," the review by TBC Capital says.