18
June
2018
According to Geostat’s rapid estimates of GDP growth, Georgia’s economy continues expanding at a moderately high pace, reaching 5.2% in the first quarter of 2018. GDP growth was mainly driven by an enhanced external environment, improved business confidence, credit expansion, and fiscal stimulus. Geostat’s Q1 growth figure is higher than the National Bank of Georgia’s (NBG) 4.8% projection for annual growth in 2018 but falls behind ISET PI’s annual GDP growth forecast of 5.7%.
22
May
2018
Geostat has released its GDP growth estimate for the first quarter of 2018. The Q1 growth stands at 5.2 percent, which is 1.1 percentage points above the recent ISET-PI forecast. ISET-PI’s forecast of real GDP growth for the second quarter of 2018 stands at 5.9 percent - up from 5.1 percent in April.
08
May
2018
BCI in the second quarter of 2018 has improved, reaching 39.6 index points, which is an 8.3 index point gain over the previous quarter. The improvement in Business Confidence is in line with the overall positive country performance (Geostat estimated 5.2% GDP growth in Q1 2018). The BCI increase is based on very high expectations and profitable past performance in almost all business sectors. Compared to other sectors, manufacturing assessed their past performance and expectations the most positively. In contrast, the agriculture sector is the most pessimistic, reflecting a low season in production.
07
May
2018
Since 2012, when the political party Georgian Dream took leadership of the country’s governance, economic [real] growth reached its highest rate in 2017 (5.0%). The drivers of this growth were construction (11.2%), hotels and restaurants (11.2%), and the financial sector (9.2%). However, a few sectors of the economy declined in 2017, and one was agriculture (-2.7%).
24
April
2018
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%.
