Analyst of Economist Intelligence Unit:
Georgia’s economy to grow 4-6% in 2018
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Georgia’s economy will grow between four to six percent in 2018, believes analyst at the Economist Intelligence Unit Max Lambertson.
The Economist Intelligence Unit is the research and analysis division of The Economist Group, a sister company of the Economist magazine.
Lambertson posted on Twitter his forecast for the 2018 real Gross Domestic Product (GDP) in the Commonwealth of Independent States (CIS) and Georgia.
Our forecast for 2018 real GDP growth in the CIS & Georgia 4-6%: Georgia, Kyrgyz Republic, Moldova, Uzbekistan 3-3.9%: Armenia, Kazakhstan, Tajikistan 2-2.9%: Turkmenistan, Ukraine <2%: Azerbaijan, Belarus, Russia pic.twitter.com/jFfNe8WCED
— Max Lambertson (@maxlambertson) January 31, 2018
Lambertson considers Georgia’s free trade agreements with China and the European Union (EU) as one of the key drivers of economic growth in 2018.
Various international financial institutions also have positive expectations about Georgia’s economic growth.What to watch in 2018: Armenia's FEZ with Iran, EEU customs duties harmonization In Azerbaijan 2nd phase of Shah Deniz II onstream Georgia's FTAs with EU & China Kazakhstan's launch of AIFC and IPOs Turkmenistan's management of forex shortage Uzbekistan's overhaul of tax system
— Max Lambertson (@maxlambertson) January 31, 2018
The World Bank projects Georgia’s economic growth will hit 4.2 percent in 2018.
The European Bank for Reconstruction and Development (EBRD) said that Georgia’s economy will grow by 4.5 percent in 2018.
The Asian Development Bank (ADB) announced the Georgian economy will grow by 4.2 percent in 2017 and 4.5 percent in 2018.
The World Bank raised its economic growth forecasts for Georgia, announcing 4.2 percent economic growth in 2018, 4.7 percent in 2019 and 5 percent in 2020. With this forecast Georgia is one of the leading countries among its neighbours in terms of economic growth, shows the Global Economic Prospects report.
The European Bank for Reconstruction and Development (EBRD) has revised its 2017 economic growth forecast for Georgia and said that the country’s economy in 2017 as well as in 2018 will experience a faster growth than previously expected.
The Asian Development Bank (ADB) is moving its forecast up and saying the Georgian economy will grow by 4.2 percent in 2017 and 4.5 percent in 2018.
Georgia experienced 4.7 percent economic growth in the second quarter of 2017, show the latest data from the National Statistics Office of Georgia (Geostat). In Q2 of 2017 the largest shares of GDP by activity are held by Industry and Trade services.