IMF: Economic activity in Georgia to hit 4% in 2017
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The International Monetary Fund (IMF) predicts economic activity in Georgia will increase to four percent in 2017.
We expect the economic activity to increase up to four percent next year as we assume an increase in public and private investments,” said Francois Painchaud, permanent representative of the IMF to Georgia.
He said the actual economic activity was lower this year than expected.
The real growth of Gross Domestic Product (GDP) was 2.7 percent during the first nine months of 2016, while we forecast 3.4 percent. Thus, we expect the economic activity to increase up to four percent starting the following year,” Painchaud explained.
Economic activity is any action that involved the production, distribution and consumption of goods and services at all levels within society. GDP is one way of assessing economic activity, and the degree of current economic activity, and forecasts for its future level can significantly impact business activity and profits, as well as inflation and interest rates.
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