The budget project of 2020 is appended with three macro-economic scenarios of the Finance Ministry of Georgia: Basic, Pessimistic, and Optimistic alternatives for economic development.
Following the basic scenario, tourism incomes will halve in 2020 due to the border restrictions.
As the Finance Ministry reports, the pandemic-related events will significantly influence the regional economies and Georgia's partner countries that will impact Georgia's economy via trade channels.
The ministry says that the oil price decline and state of emergency caused by the novel coronavirus will also impact the Azerbaijan economic rates.
In 2020, Azerbaijani economic growth will be -2.2%, while in 2021, it will equal 0.7%.
The annual inflation of Azerbaijan will total of 3.3% in 2020, while it will reach 3.2% in 2021.
Bela Gelashvili
News Author