11 month data: Georgia’s economy grows 2.4%

30 Dec 2016 - 11:28:00

comments powered by Disqus,30 Dec 2016 - 11:28, Tbilisi,Georgia

Georgia’s economy is growing; the country experienced 2.4 percent economic growth in the first 11 months of 2016, says the National Statistics Office of Georgia (Geostat).

Meanwhile, the estimated real Gross Domestic Product (GDP) growth reached two percent in November 2016, said Geostat.

The National Bank of Georgia (NBG) and various international financial institutions such as global rating agency Moody’s, Bloomberg and World Bank Group projected Georgia’s economic growth will reach three percent in 2016.

Furthermore the International Monetary Fund (IMF) projected Georgia’s economy will experience 2.7 percent growth in 2016 and four percent in 2017.

Global rating agency Fitch Ratings forecast growth of 3.2 percent in 2016 for Georgia.

As for Government authorities, Georgia’s Prime Minister Giorgi Kvirikashvili said the goal was to achieve 3.5 percent economic growth in 2016 and hit six percent in 2017.

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