OREANDA-NEWS. November 14, 2013. The Georgian economy is expected to see a modest recovery in 2014 after a sharp slowdown this year, the EBRD says in its latest Regional Economic Prospects report.

Growth had slowed down considerably in Georgia due to lower public and private investment and policy uncertainty related to the post-election political transition and the presidential elections.

GDP growth is projected to slow down from 6.2 per cent in 2012 to 2 per cent in 2013. The forecast for 2013 is a further downward revision from the forecast in May, when the EBRD expected 2013 growth of 3 per cent.

However, economic growth is expected to accelerate in 2014, with GDP rising by 4 per cent, provided both the political uncertainty subsides after the presidential elections and the improvement of Russian-Georgian commercial relations continues.