Return to growth path after crisis year
After last year’s economic downturn, Georgia is returning to the growth path. The economy is expected to grow by 3.5% this year, mainly driven by consumer spending.
The lari has stabilised at around 3.30 GEL/USD after high volatility and a 14% depreciation against the US dollar last year. The National Bank (NBG) continues to intervene in the foreign exchange market and has raised its policy rate to 9.5% to prevent rising inflation expectations.(more…)