Indexes
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ISET-PI has updated its real GDP growth forecast for the second and third quarters of 2024. Here are the highlights of this month’s release:
Geostat has published its preliminary estimate of real GDP growth for May 2024, which stands at 9.2%. In addition, the estimated growth for the first quarter of 2024 reached 8.4%, which is 0.6 ppt higher than the previous estimate. As a result, the average real GDP growth for January - May 2024 reached 9.3%.
ISET-PI forecasts Georgia's economy to grow by 10.3% in the second quarter and 8.4% in the third quarter of 2024.
According to May data, the annual growth in 2024 is projected to be 8.3% in the worst-case scenario and 10% in the best-case or average long-term growth scenario. Our median scenario, reflecting the average growth from the past four quarters, forecasts a 9.5% increase in real GDP. The model most likely overestimated these numbers at the current point in time.