27
March
2018
Geostat has revised its rapid estimate of real GDP growth for the fourth quarter of 2017. Estimated growth now stands at 5.4%, which is 0.7 percentage points above the previously estimated average growth rate for Q4. As a result, the real GDP growth for 2017 reached 5.0%.
20
March
2018
During the last decade, real GDP of Georgia has been steadily increasing, while share of agriculture has been decreasing. The share of agricultural output in total GDP decreased from 6.7% on 2016 to 6.2% in 2017. Agricultural output decreased in absolute terms as well by 2.6% in 2017 compared to 2016.
12
March
2018
In January 2018, an IMF Working Paper published new results on the shadow economy situation for 158 countries from 1991 to 2015. According to Medina and Schneider (2018), the shadow economy in Georgia during that period constituted, on average, 64.9% of GDP – the highest indicator in the world! In 2015 (the last year available), things were slightly better for Georgia, with the share of the shadow economy standing at 53%.
28
February
2018
Geostat has published its rapid estimate of real GDP growth for the fourth quarter of 2017. Estimated growth stands at 4.7%, which is only 0.1% higher than the value forecasted in the last update of our model.
28
February
2018
Among the pleasant surprises early this year, were the figures for Georgia’s economic growth in 2017. According to GeoStat estimates, Georgia’s real GDP grew by 4.8% year over year (YoY) in 2017. This result moderately surpassed the ADB, EBRD, IMF, and World Bank’s last growth projections of 4.2%, 3.9% 4.0%, and 3.5% growth, respectively. NBG's 4.5% growth projection also slightly underestimated Georgia’s economic growth in 2017. The real winner in this race was ISET-PI’s annual GDP growth forecast.
