18. Information meeting on government advice – part 2

On the second day of the information meeting, the German Economic Team (GET) presented the current economic outlook for the partner countries Georgia, Armenia and Uzbekistan. The online-event was organised by the Federal Ministry of Economic Affairs and Energy (BMWi). Representatives of the Economics Ministry, the Federal Chancellery (BK), the Federal Foreign Office (AA), the Federal Ministry of Finance (BMF), the Federal Ministry of the Environment (BMU), deputies of the German Bundestag, the German Ambassador to Georgia, the Deutsche Gesellschaft für Internationale Zusammenarbeit (GiZ), Germany Trade and Invest (gtai), KfW, the Federation of German Industries (BDI), the German Eastern Business Association and the German Business Association Armenia took part. In total, the event had 60 participants.

The macroeconomic impact of the Corona pandemic on the economies of the partner countries has also been a focus topic of the second part of the event. As expected, the Covid-19 crisis is putting considerable pressure on the economies. In Armenia, this is exacerbated by the effects of the military conflict with Azerbaijan. As a result, the Armenian economy experienced a particularly sharp drop in GDP (7.3%). The economic slump in Georgia (5.0%) is also considerable, although the Georgian economy is expected to grow again next year. The figures for Uzbekistan are encouraging. Despite the pandemic, the Uzbek economy grew by 0.7% in 2020. The following discussion was fruitful and insightful.

After the official part, attendees took part in a digital networking event via wonder.me, which allowed for more informal exchanges. All in all, the diversity of participants shows the great interest in the consulting services of the German Economic Team.