Georgia remains resilient to economic shock due to war in Ukraine - WB

The World Bank made a more optimistic forecast for Georgia's economic growth in 2022: up to 5.5% instead of 2.5% predicted in March.

This is reported in the June report of the financial institution "Prospects for the global economy."

The conclusions are based on the activation of the service sector and tourism:

“The Georgian economy is still showing resilience to the economic shock caused by Russia's invasion of Ukraine. Economic growth forecast for 2022 rose to 5.5% from a forecast of 2.5% in March. This strength is due to the revitalization of the service sector, in particular tourism, where the situation has improved significantly this year, including in May,” the report says.