October 2024 | Economic indicators for georgia's growth: august 2024 gdp boosted by lending expansion and trade gains
25
October
2024
ISET-PI has updated its real GDP growth forecast for the third and fourth quarters of 2024. Here are the highlights of this month’s release:
Geostat has published its preliminary estimate of real GDP growth for July 2024, which stands at 13%. In addition, the estimated growth for the first and second quarters of 2024 reached 8.4% and 9.6%, respectively. Consequently, the average real GDP growth from January to August 2024 reached 10%.
ISET-PI forecasts Georgia's economy to grow by 7.9% in the third quarter and 6.4% in the fourth quarter of 2024. However, given recent trends, these projections might be conservative estimates, and actual growth could surpass expectations.
Based on August data, the annual growth for 2024 is projected to be 8.1%.