August 2017 GDP Forecast | Quarter 3 forecast revised downward, but strong tourism and export performance are set to boost growth
21 August 2017

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

• Geostat has recently released its rapid estimate of economic growth for the second quarter of 2017, which now stands at 4%. As a result, estimated real GDP growth for the first half of 2017 reached 4.5%.

• The ISET-PI real GDP growth forecast for the third quarter of 2017 was revised downward to 5.3%.

• Based on June data, we expect annual growth in 2017 to be 5.0% in the worst-case or “no growth” scenario, and 5.3% in the best-case or “average long-term growth” scenario.