Georgia: Economy

Growth slowed to 2.8% as a weak external environment curbed investment, exports, and remittances in Georgia. Currency depreciation fueled inflation. With continued external weakness, growth is expected to remain low in 2016 before recovering in 2017 on stronger global expansion. Inflation is expected to rise in 2016 before reverting, while the current account deficit should narrow in both years. Read more from Asian Development Outlook 2016

Economic forecasts for Central Asian countries

Country 2016 2017
Armenia 2.0 2.3
Azerbaijan -1.0 1.0
Georgia 2.5 3.5
Kazakhstan 0.7 1.0
Kyrgyz Republic 1.0 2.0
Tajikistan 3.8 4.0
Turkmenistan 6.5 7.0
Uzbekistan 6.9 7.3
Average 2.1 2.8
Country 2016 2017
Armenia 3.8 4.0
Azerbaijan 12.0 5.2
Georgia 5.0 4.0
Kazakhstan 12.6 4.6
Kyrgyz Republic 10.0 8.0
Tajikistan 8.5 7.5
Turkmenistan 6.6 6.0
Uzbekistan 10.0 11.0
Average 10.8 5.9
Country 2016 2017
Armenia -5.2 -5.0
Azerbaijan -0.6 1.5
Georgia -9.5 -9.2
Kazakhstan -3.5 -3.1
Kyrgyz Republic -17.0 -15.0
Tajikistan -4.8 -5.5
Turkmenistan -12.3 -10.0
Uzbekistan 0.2 0.8
Average -3.9 -3.0

Source: Asian Development Outlook 2016