Georgian economy grew 9.3% in January-May, says Statistics Office

The Georgian economy grew by 9.2 percent year-on-year in May, while the average real gross domestic product growth for the first five months equalled 9.3 percent, the National Statistics Office said on Friday. Photo: Nino Alavidze/Agenda.ge

Agenda.ge, 28 Jun 2024 - 12:38, Tbilisi,Georgia

The Georgian economy grew by 9.2 percent year-on-year in May, while the average real gross domestic product growth for the first five months equalled 9.3 percent, the National Statistics Office said on Friday.

Last month’s growth was mainly driven by estimated real growth in information and communication, professional, scientific and technical sector, financial and insurance industries, construction, transportation and storage, the Office noted.

Fitch Ratings, a global financial ratings firm, this month projected a 5.8 percent growth in 2024 and an average of five percent growth from 2025 to 2026 for the Georgian economy.

The Georgian economy has also been projected to grow 5.2 percent in 2024 in the June edition of the World Bank’s Global Economic Prospects report.