February 2017 Macro Review | Despite a disappointing year, Georgia remains the country with the highest economic growth among its neighbors
10 February 2017

According to the preliminary statistics released by GeoStat, Georgia’s real GDP growth was 2.2% year over year (YoY) in 2016. This result fell behind the World Bank’s, IMF’s, and EBRD’s last growth projections of 3.4%. The NBG’s 3.5% growth projection from November also overestimated Georgia’s economic growth in 2016.

The ISET-PI annual GDP growth forecast made in June was more realistic. At that time, we predicted a 2.7% annual growth rate in the worst-case scenario and 4.1% in the best-case. However, in November, as growth rates slowed down, the ISET-PI GDP forecast predicted 2.7% YoY growth in 2016.