January 2022 GDP Forecast | Georgian economy continues to recover from covid-19 impact, but inflation threatens stability as food prices soar by 17.7 percent
17 January 2022

ISET-PI has updated its real GDP growth forecast for the fourth quarter of 2021 and the first quarter of 2022. Here are the highlights of this month’s release: 

Recently, Geostat revised upward its real GDP growth for the third quarter of 2021 to 9.1% (by 0.1 ppt).

The real GDP growth rate amounted to 12% year-on-year for November 2021. Consequently, the estimated real GDP growth for the first eleven months of 2021 was 10.7%.

As a result of the update, the growth forecast for Q4 of 2021 increased by 0.1 ppt to 10.9%. ISET-PI’s second forecast for Q1 of 2022 puts GDP growth at 7.4%.

Based on November’s data, we expect annual growth in 2021 to be 10.8%, which is 0.1 percentage points higher than the previous forecast.