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
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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.
The Georgian economy has been projected to grow 5.2 percent in 2024 in the June edition of the World Bank’s Global Economic Prospects report, published on Wednesday.
The National Bank of Georgia on Wednesday said the domestic financial system was “maintaining stability” and “continuing to support” the domestic economy.
Fitch Ratings, a global financial ratings firm, has decided to maintain Georgia’s sovereign credit rating at the BB level, with a stable outlook.
Mikheil Dundua, Georgian Deputy Finance Minister, on Saturday told TV Imedi the Government was expecting to see a “double-digit” growth this year based on four-month data of related figures.