Georgia’s economy is growing steadily, show the latest data from the National Statistics Office of Georgia (Geostat).
The estimated real gross domestic product (GDP) growth rate in December 2018 equaled 5.6% year-on-year (y/y), while the real GDP average growth amounted 4.8% for 2018 y/y.
Last month the estimated real growth, compared to the same period of the previous year, was posted in the following activities:
A decrease was registered in:
Various international financial institutions also have positive expectations for Georgia’s economic growth.
The Asian Development Bank (ADB) raised Georgia’s 2018 growth forecast to 4.9% from the estimate of 4.5% reflecting strong growth in tourism and robust investment after an increase in business and investor confidence.
The International Monetary Fund (IMF) has moved its forecast up, saying the Georgian economy will grow by 5.5% in 2018.