Based on the PBO's Macroeconomic Forecasting Model, economy are expected to grow at 3.5% in 2016, while in the medium-term (2017-2019) forecasted real GDP growth rate on average equals to 4.9%.
Based on the PBO's forecasts, net/lending borrowing will amount -1.2% of GDP in 2016 that slightly differs from MoF forecast. Particularly, PBO projects that budget revenue will equal 8,694 mln GEL that is slightly less than forecasted value represented by MoF. It is worth to mention that projected values of budget expenditures are taken exogenously from the MoF medium term plans represented in the BDD baseline scenario.
Based on the PBO's forecast, current account balance (CAB) will reach -9.0% in 2016, while MoF projects that the CAB will equal to -9.8% for the same year. However, PBO expects that the CAB will remain at -9.0% levels in the medium-term.
Macroeconomic Forecasts
- Monday, 22 February 2016 13:39
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