That Georgia is making strident progress on a variety of international indices is widely reported in the domestic press, but many Georgians may still view claims of their country ranking highly on global lists of safety and economic freedom with a degree of skepticism; after all, the average wage remains low, and there are few opportunities outside of the capital.
ISET-PI’s forecast of real GDP growth for the second quarter of 2017 has not changed and stands at 4.7%. The first estimate of the third quarter growth forecast is at 7.4%. The real GDP growth rate reached 5.1% year-on-year for April 2019. Consequently, the estimated real GDP for the first four months of 2019 amounted to 4.8%.
According to Geostat’s rapid estimates of GDP growth, Georgia’s economy continues expanding at a moderately high pace, reaching 4.7% in the first quarter of 2019. Geostat’s Q1 growth figure fell below the National Bank of Georgia’s (NBG) 5% projection for annual growth in 2019. Meanwhile, based on the March data, ISET PI’s annual GDP growth forecast was 4.9%.
Geostat has released its GDP growth estimate for the first quarter of 2019. The Q1 growth stands at 4.7%, which is only 0.4 percentage points above the recent ISET-PI forecast. ISET-PI’s forecast of real GDP growth for the second quarter of 2019 stands at 4.7% - up from 4.6% in April.
The close ties between ISET and the World Bank were reaffirmed once again on the 8th of May when a project supported by the Bank was unveiled at an event in the institute’s conference hall.