Indexes
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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.