21
June
2021
The World Bank (June 2021) estimates that global GDP growth will reach 5.6% year over year (y/y) in 2021. Though thus rebound is uneven, with growth concentrated mainly in advanced economies and developing countries set for a slower recovery.
24
May
2021
Geostat has released its GDP growth estimate for the first quarter of 2021. The Q1 growth stands at -4.2%, which is 1.2 percentage points above the recent ISET-PI forecast. ISET-PI’s forecast of real GDP growth for the second quarter of 2021 stands at 12.2% -up from 11% in April. The third-quarter growth forecast currently stands at 3.3%.
31
March
2021
The COVID-19 outbreak had a devastating effect on the Georgian economy in 2020. Real GDP contracted by 6.1% according to Geostat’s rapid estimates of economic growth. This was the worst performance of real GDP growth in the country in more than two decades.
17
March
2021
The real GDP growth rate amounted to -11.5% year-on-year for January 2021. As a result of the update, the growth forecast for Q1 of 2021 remained unchanged, at -5.4%. ISET-PI’s second forecast for Q2 of 2021 puts GDP growth at a positive 11%.
15
February
2021
Geostat has published its rapid estimate of real GDP growth for the fourth quarter of 2020, and their estimated growth stands at -6.5%, which is 1.3 percentage points below the ISET-PI’s most recent forecast. The annual real GDP growth in 2020 amounted to -6.1%, which is 0.6 percentage point lower than our recent prediction. Economic activity fell sharply due to global pandemic, although the decline was mitigated by the relatively strong fiscal stimulus and lending.
