According to the economic growth forecast released by the EBRD, inflation is due to the depreciation of the national currency and the increase in excise taxes.
The EBRD estimates that Georgia's official international reserves totaled $ 3.6 billion in September, which would cover about 4 months of imports.
According to the EBRD forecasts, the economy of Georgia will grow by 4.5% in the current and next year. The bank notes that GDP grew 4.7% in the first half of 2019, money transfers are steadily increasing for the fourth year, credit is also growing and exports of goods is increased by 12.4% in the first 8 months of 2019.
EBRD explains that the slowdown in tourism growth and domestic political chaos had a negative impact on the stability of the national currency. According to the document, in the 9 months of 2019, the GEL depreciated by 9.4%.
Bela Gelashvili
News Author