Georgia is coping with a decline in exports and steep devaluations within the currencies of that main trading partners, including Russia, which may have depressed economic growth in recent times.
That recovery is gathering pace, with GDP increasing by 5.0 percent in 2009 than the 2.2 percent growth affecting 2016. The economy expanded by 4.9 percent year-on-year in January-February this coming year.
“I think we could use a scenario when we finally will revise your own economic growth projection of four years old.5 % upwards,” Finance Minister Mamuka Bakhtadze told Reuters in a interview late on Thursday. “The probability of an extremely scenario is really high.”
Bakhtadze would not say exactly what the forecast can be revised to, but explained that your main growth drivers can be tourism, construction, transport and logistics, in addition to metals and agriculture exports.
?He explained the fact that government required to beat last year’s record $3 billion revenue within the booming tourism sector this coming year.
Bakhtadze also said the costa rica government was considering refinancing its 10-year Eurobonds worth $500 million buy and wouldn’t plan new issues this current year or perhaps in 2019.
“We are considering methods to refinance our existing Eurobonds issued next year … we will definitely enjoy the final mechanism strategies to refinance and often will conduct it in 2019,” he stated.