February 2018 GDP Forecast | In 2017 Georgia enjoyed the highest growth in five years, but rapid consumer credit expansion needs to be closely monitored
28 February 2018

ISET-PI has updated its forecast of Georgia’s real GDP growth rate for the first quarter of 2018. Here are the highlights of this month’s release:

Geostat has published its rapid estimate of real GDP growth for the fourth quarter of 2017. Estimated growth stands at 4.7%, which is only 0.1% higher than the value forecasted in the last update of our model.

Given the latest data, Georgian annual real GDP growth in 2017 amounted to 4.8%. Our annual GDP forecast of 4.7% (since November 2017), and 4.8% (since December 2017), therefore turned out to be quite accurate.

ISET-PI’s forecast for the first quarter of 2018 puts GDP growth at 3.4%.

Real GDP growth in 2017 is the highest in the last five years, supported by both external and domestic factors.