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%.

The average cost of cooking one standard Imeretian khachapuri in April 2019 varied across Georgian cities, from 3.21 GEL (the price in Kutaisi) to 3.57 GEL (in Telavi). The overall average price was 3.47 GEL, which is 1.3% lower compared to the previous month (March 2019), and 5.5% higher compared to the same month of last year (April 2018). The change in yearly terms was driven by increases in three of the core ingredients: cheese prices went up by 9.5%, followed by flour (7.6%), and butter (1.7%).

Results of the analyses are expected to contribute to the assessment of changes in trade patterns between Georgia and CAREC countries due to upcoming EU food safety regulations and standards as well as potential costs associated with those restrictions for both parties.

Although Georgia has made significant strides on its developmental path over the last decade, and its ambitions to fully join Western bodies such as NATO and the European Union no longer seem a far-fetched dream, there are sectors of society that have not benefited from the full attention and aid given to other areas.

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.