May 2017 GDP Forecast | Growth projections increase in May on “better than expected” Q1 performance
22 May 2017

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

• ISET-PI’s forecast for the second quarter of 2017 was revised upward from 4.4% to 5.9%.

• Meanwhile, Geostat has updated its GDP growth estimate for the first quarter of 2017. The Q1 growth rate stands at 5%, which is 1.8 percentage points above the forecast.

• We started forecasting the annual growth rate at the start of 2014 (see our January 2014 and February 2014 publications for a note on methodology). Based on January’s data, we expect annual growth in 2017 to be 6.2% in the worst-case or “no growth” scenario, and 6.6% in the best-case or “average long-term growth” scenario.