July 2016 GDP Forecast | Growth forecast edges upward following revised Q1 statistics from geostat
28 July 2016

ISET-PI has updated its forecast of Georgia’s real GDP growth rate for the second and third quarters of 2016. Here are the highlights of this month’s release:

• The growth forecast for the 2nd and 3rd quarters of 2016 was revised upward by 0.5%. They now stand at 4.7% and 4.8% respectively.

• Based on the available data, we expect annual growth in 2016 to be 3.7%. This is our “middle-of-the-road” scenario (based on the average growth in the last four quarters). Annual real GDP growth is predicted to be 2.9% in the worst-case or “no growth” scenario, and 4.4% in the best-case or “average long-term growth” scenario (see our January 2014 and February 2014 publications for a note on methodology).