Georgia’s economy growth “exceeded IMF’s expectations”
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Georgia’s economy is growing and exceeding the projected outlook of the International Monetary Fund (IMF).
Georgia’s Gross Domestic Product (GDP) experienced an average real growth of 2.2 percent year-on-year (y/y) in September, said the country’s National Statistics Office (Geostat), while IMF expected only two percent growth.
Preliminary data revealed the estimated real GDP growth reached 2.5 percent for the third quarter (Q3) of 2015 y/y and 2.7 percent y/y for first nine months of 2015.
Back in May IMF projected Georgia’s economic outlook as two percent in 2015.
The Regional Economic Outlook Update for the Caucasus and Central Asia (CCA), released on May 19, predicted current growth trends in the CCA region would decline this year as a result of lower commodity prices and the economic slowdown in Russia.
Now it is higher than 2.5 percent and it is more than what we have expected,” said IMF Resident Representative in Georgia Azim Sadikov.
He said in the coming years Georgia’s economy will grow further and the figures will be higher than in any other oil importer countries.
This is good for the business environment and this is a result of the Association Agreement and all structural reforms,” Sadikov added.
Also in May the European Bank for Reconstruction and Development (EBRD) announced Georgia’s economy was expected to decelerate its growth to 2.3 percent in 2015 and 2.6 percent in 2016, reflecting mainly a deteriorating external environment, with recession in Russia and sharp slowdown of regional trading partners.
Meanwhile, global ratings agency Fitch Ratings has revised its outlook for Georgia and predicted the country would experience 2 percent economic growth in 2015.
This revised prediction was a downgrade on its 2014 economic forecast of 4.8 percent.
In March, this year, another global rating agency Moody's published a report which said Georgia’s economy would grow by 3.5 percent in 2015.
The economy of Georgia will grow by more than three billion GEL in nominal terms and reach 33.8 billion GEL, announced Georgia’s Prime Minister Irakli Garibashvili at today’s Government meeting.
International Monetary Fund (IMF) projected Georgia’s economic outlook as two percent in 2015 and three percent in 2016.
Georgia’s economy is expected to decelerate to 2.3 percent in 2015 and 2.6 percent in 2016, reflecting mainly a deteriorating external environment, with recession in Russia and sharp slowdown of regional trading partners.
Global ratings agency Fitch Ratings has revised its outlook for Georgia and is now predicting the country will experience 2 percent economic growth in 2015.
The World Economic Outlook (WEO) has projected Georgia’s real Gross Domestic Product (GDP) will grow by two percent in 2015 and three percent in 2016 but only reach 5 percent growth in 2020.
Georgia’s economy will grow by 3.5 percent in 2015, reports global rating agency Moody's.
A delegation from the International Monetary Fund (IMF) is visiting Georgia to discuss the country’s economic outlook with local officials.
Georgia’s economy will experience six percent growth in 2017, forecasts the International Monetary Fund (IMF).
The International Monetary Fund (IMF) mission to Georgia has ended, and the organisation has published an optimistic concluding statement that claims Georgia's economy is stabilising and growing and foreign trade is also improving.
Georgia's economic growth is expected to hit three percent in 2016, 4.5 percent in 2017 and five percent in 2018, forecasts the World Bank Group.
Georgia’s economy will grow and reach three percent in 2016, says Bloomberg.
Global rating agency Moody’s forecasts Georgia’s real economic growth will average three percent in 2016.
Georgia’s economy will grow 3.4 percent in 2016 and 5.2 percent in 2017, says the International Monetary Fund (IMF).