Georgia's central bank lowers growth forecast
The National Bank of Georgia lowers the country's economic growth forecast.
President of the National Bank of Georgia Giorgi Kadagidze told journalists on Thursday that the reason for this is the slowdown in economic activity rate.
"The Statistics Department's data in general do not give us the opportunity to suggest that by late year we will achieve a 6-percent economic growth. The reasons for this are slowdown in the inflow of foreign direct investments, as well as the internal factor - I mean passivity of business, which has not come out of standby mode to some extent and remains in uncertainty," Kadagidze said.
He said analyzing the situation the National Bank of Georgia cooperates with the government sending the relevant information to it.
"We hope that from the second half of the year, the mentioned negative tendency will change," Kadagidze said.
In the first quarter of 2013, economic growth in Georgia was 1.7 percent. In the similar period of last year, the figure was 6.7 percent.