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Consumer Confidence Index (CCI) dynamics restored. The CCI rose from -34 in February to -28.8 in March, indicating an increase of 5.2 index points.
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In March 2023, the average cost of cooking one standard portion of Imeretian khachapuri stood at 6.54 GEL. The latest average price is 10.9% higher than in March 2022. Whereas in month-to-month developments, the price of a khachapuri decreased by 5.7% compared to the previous month, February 2023.
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The budget for the Ministry of Environment Protection and Agriculture (MEPA) amounted to 698.5 million GEL (an increase of 10.0 million GEL) in 2023.
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Decline in the CCI. Consumer confidence decreased by 5.9 index points – from -28.1 in January to -34 in February.
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As a result of the update, the growth forecast for Q1 of 2023 was reduced by 0.1 percentage points to 2.6%. ISET PI’s second forecast for Q2 of 2023 puts GDP growth at a positive 1.6%.