June 2018: Georgian economy grows 4%

The Netherlands was Georgia's largest investor in 2014, with $331 million USD. Photo by N. Alavidze / Agenda.ge.
Agenda.ge, 30 Jul 2018 - 11:35, Tbilisi,Georgia

Georgia’s economy grew four percent in June 2018, while average estimated real gross domestic product (GDP) growth equalled six percent in the second quarter of 2018 and 5.7 percent in the first half of 2018 year-on-year, says the National Statistics Office of Georgia (Geostat).

Last month the estimated real growth, compared to the same period of the previous year, was posted in the following activities:

  • Transport
  • Hotels and restaurants
  • Financial intermediation
  • Trade

The government forecasts the Georgian economy to grow by 4.5 percent in 2018.

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

In 2018, the World Bank predicts Georgia’s economic growth to hit 4.2 percent while the European Bank for Reconstruction and Development (EBRD) says Georgia’s economy will grow by 4.5 percent.

The Asian Development Bank (ADB) forecasts the Georgian economy will grow by 4.5 percent in 2018.

The International Monetary Fund (IMF) has moved its forecast up, saying the Georgian economy will grow by 4.5 percent in 2018 and 4.8 percent in 2019.