Georgia’s economy grows 4.8% in 10 months

Agenda.ge, 29 Dec 2017 - 11:29, Tbilisi,Georgia

Georgia’s economy is growing steadily, reaching 4.8 percent growth in the first 10 months of 2017, show the latest data from the National Statistics Office of Georgia (Geostat).

Meanwhile, in November 2017, the estimated real Gross Domestic Product (GDP) growth rate amounted to 3.7 percent year-over-year (y/y).

Last month the estimated real GDP growth was registered in the following activities:

  • Hotels and restaurants
  • Real estate activities
  • Trade
  • Transport

On the other hand a decrease occurred in:

  • Construction
  • Manufacture of food products
  • Manufacture of basic metals

Various international financial institutions have positive expectations about Georgia’s economic growth.

The World Bank projects Georgia’s economic growth will hit 3.5 percent in 2017 and four percent in 2018.

The International Monetary Fund (IMF) expects four percent growth for Georgia’s economy in 2017.

Global rating agency Fitch Ratings forecasts 4.2 percent growth in 2017 for Georgia.

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