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covid19 pandemic

Georgian economy to be down 6% this year, before recovery

8 mins read

The FINANCIAL — Emerging and developing economies in the Europe and Central Asia region are on course to contract by 4.4 percent this year, the worst recession since the global financial crisis of 2008, says the latest edition of the World Bank’s Economic Update for the region, released today. Growth is expected to recover in 2021, between a range of 1.1 percent to 3.3 percent. The outlook remains highly uncertain, however, and risks are tilted to the downside. The pace of recovery depends on the duration of the coronavirus (COVID-19) pandemic, the availability and distribution of a vaccine, and the degree of improvement…

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Georgian economy to be down 6% this year, before recovery

8 mins read

The FINANCIAL — Emerging and developing economies in the Europe and Central Asia region are on course to contract by 4.4 percent this year, the worst recession since the global financial crisis of 2008, says the latest edition of the World Bank’s Economic Update for the region, released today. Growth is expected to recover in 2021, between a…