Geostat recently updated its preliminary estimate of real GDP growth for the first and second quarters of 2018. The Q1 and Q2 GDP growth estimates were revised downward to 5.2% and 5.6%, respectively. The third quarter estimates so far remained unchanged.

ISET-PI’s forecast for the first two quarters of 2018 stands at 4.1% and 5.1%, respectively (no change from last month’s estimations). Geostat has released its rapid estimate of real GDP growth for January and February of 2018. Estimated growth stands at 4.4% and 5.5%, correspondingly. As a result, the average real GDP growth for January-February 2018 reached 4.9%.

Georgia has considerable deposits of metal (for instance, manganese, copper, and gold) and non-metal resources, however, our current regulations do not encourage investment while at the same time failing to generate significant fiscal revenues.

The report "Financial Soundness Indicators for Sector Stability in Georgia" provides an overview of the health of the Georgian financial sector and the key challenges it faces. Over the medium term, to increase domestic savings, reduce borrowing cost, and improve the credit risk, the report recommends facilitating property registration, improving the credit information-sharing mechanism, ensuring the security of bank deposits, and legislating improvements in reporting standards for firms.

The growth forecast for the third quarter of 2015 has not changed since last month and remains at 2.6%. The first forecast for the fourth quarter growth of 2015 has been targeted at 3.8%.