Macroeconomic Forecast Georgia

We forecast the Georgian current account deficit to narrow to US$1.16bn this year, from US$1.27bn in 2009, bringing the shortfall down to 10.0% of GDP, from 11.6% previously. This is based on our view that private consumption will fail to recover strongly this year, with exports set to outpace imports. Through the medium term, we expect the deficit to continue contracting, and forecast it to reach 7.7% of GDP by 2014.

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