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January 2024 | Analyzing economic trends in Georgia: moderate growth in foreign currency deposits, annual decline in exports, remittances adjust for migration impact, below-target inflation
Home Indexes GDP Forecast
29 January 2024

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ISET-PI has updated its real GDP growth forecast for the fourth quarter of 2023 and the first quarter of 2024. Here are the highlights of this month’s release:

Geostat has released its rapid estimate of real GDP growth for November 2023. The estimated growth stands at 5.9%, while the average real GDP growth for January-November 2023 reached 6.9%.

In November, Geostat maintained its rapid estimate of economic growth for the first two quarters of 2023. The growth rate for Q1 is estimated to be 8.0%, and 7.8% for Q2. While the GDP growth for Q3 was adjusted upward from 5.4% to 5.7% by the end of January.

ISET-PI predicted 6.2% and 2.7% growth for the fourth quarter of 2023 and the first quarter of 2024, respectively. 

Based on November data, the annual growth in 2023 is expected to be 7.3%.

Tags: #index, #gdp forecast, #economic growth, #gdp growth, #trade, #export, #remittances, #exchange rate, #inflation,

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