Georgia’s economy grows 6% in March 2019

Georgia’s economy grows 6% in March 2019

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 March 2019 equaled 6%, while the estimated average real GDP growth for the first quarter (Q1) of 2019 equaled 4.7% year-on-year.

Last month the estimated real growth, compared to the same period of the previous year, was posted in the following activities:

Trade
Transport
Other community, social and personal service activities
Real estate, renting and business activities

A decrease was registered in construction.

Various international financial institutions also have positive expectations for Georgia’s economic growth.

The World Bank forecasts 4.6% economic growth in Georgia in 2019, 4.8% in 2020 and 5% in 2021.

The Asian Development Bank says that the Georgian economy will grow by 5% in 2019 and by 4.9% in 2020 with higher investment spending.

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