November 2015 Macro Review | Exchange rate pressure is off. Output growth picks up in October
04 December 2015

According to recently released statistics, the Georgian economy continued on a stable trajectory of low- single-digit growth in September and October. The rapid growth estimates for October show 3% GDP growth, definitely an improvement over the 2.2% growth in September. The estimated average real GDP growth rate in the first ten months of 2015 was 2.8% year on year.

The latest figures point to the strong possibility that Georgia will close out the year with annual real GDP growth above the 2% projected by IMF for 2015.

In the third quarter of 2015, estimated real GDP growth reached 2.5% year on year. This was very close to ISET-PI’s third quarter forecast of 2.6%.

At the same time, ISET-PI’s Leading Economic Indicators forecast puts 2015 annual GDP growth at about 3%.