November 2017 GDP Forecast | The end (of the year) is near. ISET-PI GDP growth forecast predicts 4.7% real growth in 2017
06 November 2017

ISET-PI has updated its forecast of Georgia’s real GDP growth rate for the fourth quarter of 2017. Here are the highlights of this month’s release:

Recently, Geostat has released the preliminary estimate of the real GDP growth for the third quarter of 2017. The Q3 growth rate now stands at 4.4%, which is 1.5% below ISET-PI’s last forecasted value. As a result, the estimated real GDP growth for the first nine months of 2017 amounted to 4.7%.

ISET-PI’s revised its forecast of real GDP growth for the fourth quarter of 2017 to 4.6%.

Based on September’s data, we expect annual growth in 2017 to be 4.7%. This number is in line with the National Bank of Georgia’s growth forecast for 2017 (the forecast was recently revised by NBG upward from 4% to 4.5%). According to the latest Monetary Policy Report, the upward growth revision is based on the improved trade balance, increased consumption and investment, supported by rising money inflows and improved business.