Gov't: Growth recession in Georgia's trading partner countries will affect exports and money transfers

12:12, 03.06.2020

“It is expected that a growth recession in Georgia’s trading partner countries will affect the country’s exports and money transfers, also, will reduce capital inflows or cause postponement of planned investments in the economy,” the government said in a document on the state budget submitted to the Parliament.

The government notes that “in the wake of the recession, the International Monetary Fund predicts that Georgia’s economy will shrink by 4 per cent by 2020, however, expects a 4 per cent increase in growth by 2021.”

The Government of Georgia said, “both economic and fiscal outlooks have deteriorated as a result of the pandemic.”

Economics

Government of Georgia

growth recession

pandemic