Asian Development Bank improves economic growth outlook for Georgia

The Asian Development Bank (ADB) has revised its economic growth outlook for Georgia to 4.9% instead of 4.5%. 

The inflation forecast on Georgia has been reduced to 3% for 2018-2019, according to the report of the Asian Development Bank (ADB).

The ADB also plans to increase its investment portfolio by over $1 billion in Georgia.

The ADB said that by the end of 2018 the investment portfolio will be increased by $300 million and in 2019-2021 by $1.080 billion, Agenda.ge reported.

Georgian Economy Minister Giorgi Kobulia said after a meeting with the ADB Country Director for Georgia Yesim Elhan-Kayalar that the bank had already invested in Georgia about $3 billion.

The Georgian minister said that the promising fields in which the ADB might increase investments are Georgia’s energy sector, pension reform and public-private partnership law implementation.

Kobulia added that the ADB is also considering more active support to Georgia’s small and medium-sized businesses and that the bank had presented "a very important" programme in this regard.