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Quarter 3 2021 Macro Review | Quarter 3 reality check for Georgia: low vaccination rates, higher inflation and tepid FDI emerge as new challenges
20 December 2021

The global economy continues to recover in Q3 2021 following the deep economic crisis caused by the COVID-19 pandemic. The growth accelerated as a result of the easing of virus- containment restrictions in most countries. According to the IMF forecast (October 2021), global GDP will grow 5.9% year over year (y/y), which is a downward adjustment from the previous estimate of 6% (July 2021).

December 2021 GDP Forecast | Poised to see a nearly 10% GDP growth in 2021, Georgia still struggles with inflation, stagnant consumer confidence and slow tourism recovery
16 December 2021

Recently, Geostat released its preliminary estimate of real GDP growth for the first and second quarters of 2021. The Q1 and Q2 growth rates were revised upward to -4.1% (by 0.4 ppt) and downward to 28.9% (by 1 ppt) respectively. The real GDP growth rate amounted to 6.9% year-on-year for October 2021. Consequently, the estimated real GDP growth for the first ten months of 2021 was 10.5%.

November 2021 GDP Forecast | Georgian economic growth in 2021 driven mainly by the recovering external sector
15 November 2021

According to Geostat’s updated estimate, Q3 2021 growth rate stands at 9%. As a result, the real GDP growth estimate for the first nine months of 2021 is 11.3%.

Quarter 2 2021, Macro Review | Mixed blessings of recovery: what does Georgia’s best quarter since the pandemic tell us?
11 October 2021

The global economy continues to recover in Q2 2021 following the deep economic crisis caused by the COVID-19 pandemic in 2020. The growth accelerated as a result of the easing of virus-containment restrictions in most countries. IMF (July 2021) estimates that global GDP growth will reach 6% year over year (y/y) in 2021. Though this rebound is uneven – compared to the previous estimates (April 2021), growth projections for emerging markets and developing economies are revised downward.

September 2021 GDP Forecast | Inflation hurts Georgia’s GDP forecast, while recovery of remittances and real exchange rate appreciation make a positive impact
27 September 2021

Recently, Geostat has released the preliminary estimate of real GDP growth for the second quarter of 2021, which now stands at 29.9%. The real GDP growth rate reached 9.9% year-on-year in July 2021. Consequently, the estimated real GDP for the first seven months of 2021 amounted to 12.2%.

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