Indexes
Quarter 2 2021, Macro Review | Mixed blessings of recovery: what does Georgia’s best quarter since the pandemic tell us?
11
October
2021
The global economy continues to recover in Q2 2021 following the deep economic crisis caused by the COVID-19 pandemic in 2020. The growth accelerated as a result of the easing of virus-containment restrictions in most countries. IMF (July 2021) estimates that global GDP growth will reach 6% year over year (y/y) in 2021. Though this rebound is uneven – compared to the previous estimates (April 2021), growth projections for emerging markets and developing economies are revised downward. This is driven by slower than anticipated mass vaccination in the developing economies, where infection rates remain quite high and various restrictions are still in place. In contrast, mass immunization is more successful in developed countries. Together with additional fiscal support announced in some of the countries in the second half of 2021, it drove the annual growth forecast for advanced economies up by 0.5 percentage points (pp).
United States and Euro area are projected to expand by 7% and 4.6%, respectively, while the Chinese economy is expected to grow by 8.1%. In addition, Georgia’s neighbors Russia and Turkey are each projected to show moderate growth this year: 4.4% and 5.8% y/y respectively.
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Quarter 3, 2023 Macro Review | Economic landscape in Georgia: navigating growth amidst global uncertainties and regional dynamics
29
December
2023
The global recovery from both the COVID-19 pandemic and Russia's invasion of Ukraine is progressing slowly and unevenly. While there was initial economic resilience earlier in the year, marked by a rebound in reopening and efforts to reduce inflation, it is premature to feel reassured. Economic activity has yet to fully return to pre-pandemic levels, particularly in emerging markets and developing economies, and regional disparities are widening.
Quarter 2, 2023 Macro Review | Annual economic review: unpacking the slower GDP growth, inflation stability, and changing the FX stream dynamics
23
October
2023
Global economic growth is anticipated to decrease from 3.5 percent in 2022 to 3.0 percent in both 2023 and 2024. In comparison to the April 2023 World Economic Outlook (WEO) projections, there has been a modest 0.2 percentage point improvement in the growth forecast for 2023, while the 2024 projection remains unchanged.
Quarter 1 2023, Macro Review | Georgian economy moves ahead, but fears of global headwinds mar the start of 2023
03
July
2023
The global economy remains in a volatile state amid the prolonged effects of the combined negative shocks of the pandemic, Russia’s invasion of Ukraine, high inflation, and the tightening monetary policy. Although the global economy remained resilient at the beginning of the year, the situation is expected to worsen.
Quarter 4 2022, Macro Review | Georgian economy 2022 – the year in review
10
April
2023
In 2022 Georgia stayed on the path of recovery, exceeding experts’ expectations of economic performance. According to GeoStat’s preliminary estimates, the real GDP continues to show double-digit growth rates, measuring at 10.1% y/y in 2022 – which is remarkably close to the NBG’s real GDP growth expectation of 10% from October 2022.
Quarter 3 2022 | Macro Review: A perfect storm of global challenges in 2022 tests the resilience of the Georgian economy
26
December
2022
The third quarter of 2022 was marked by a “perfect storm” of global challenges. Due to the ongoing geopolitical, economic, and ecological turbulence, with inflation reaching its highest point in decades, the world economy remains volatile.
