The European Bank for Reconstruction and Development (EBRD) has cut its 2020 economic growth forecasts for Georgia, but expects a recovery in 2021.

As EBRD says, Georgia’s gross domestic product (GDP) growth is expected to fall -5.5% in 2020, before rebounding to around 5.5% in 2021. The Banks adds that the economy would be severely impacted as transport restrictions hit travel and tourism.

“Recovery would depend on a gradual relaxation of domestic measures to contain the virus and a return to normality during the second half of the year”, - reads the statement of the European Bank for Reconstruction and Development.