9 Oct 2018 16:58

IMF expects Georgian GDP to grow 5.5% in 2018, improves inflation forecast

TBILISI. Oct 9 (Interfax) - Georgian GDP will grow 5.5% in 2018 and 4.8% in 2019, according to the International Monetary Fund's World Economic Outlook for October.

In its April forecast, the IMF said Georgian GDP would grow 4.5% in 2018 and 4.8% in 2019.

The IMF now expects Georgia to have 2.8% inflation in 2018 (compared with 3.6% in the April report). It forecasts inflation to slow to 2.7% in 2019.

The current account deficit will amount to 10.5% of GDP in 2018 (the same forecast as in April) and 10.2% of GDP in 2019 (9.5%).

The Georgian government forecasts GDP to grow 4.5% in 2018, as does the World Bank and the European Bank for Reconstruction and Development (EBRD), while the Asian Development Bank (ADB) now forecasts growth this year at 4.9%.

Georgia's GDP growth accelerated to 5% in 2017 from 2.8% in 2016.