Given the newly revised Q3 forecast, the annual growth in 2015 is expected to be 2.6% in the worst-case, or “no growth” scenario, and 3% in the best-case, or “average long-term growth” scenario (see our January 2014 and February 2014 publications for a note on methodology).

The growth forecast for the second quarter of 2015 was revised slightly downward from 5.1% to 5.0%. The growth forecast for the third quarter of 2015 has been targeted at 5.3%. Meanwhile, Geostat updated its GDP growth estimate for April 2015 to 0.9%.

The growth forecast for the 1st quarter of 2014 has been revised upward from 0.5% to 2.3%. The growth forecast for the 2nd quarter of 2014 has also revised upward from 1.6% to 4.3%. Meanwhile, Geostat has updated the GDP growth estimate for February 2015, it stands at 4.9%.

The growth forecast for the 1st quarter of 2014 has been revised downward from 3.6% to 0.5%. The growth forecast for the 2nd quarter of 2014 has been targeted at a low 1.6%. Meanwhile, Geostat has updated the GDP growth estimate for January 2015, and similarly to our forecast, it stands at 0.5%.

With the release of the December data, the year 2014 is now “officially” over. ISET-PI has updated its forecast for Georgia’s real GDP growth rate for the first quarter of 2015; meanwhile, official rapid estimates of both fourth quarter and annual growth rates for 2014 became available from Geostat.