Georgia Economic Outlook
February 6, 2018A flash estimate of GDP revealed that the economy accelerated in the fourth quarter, clocking a robust 4.7% expansion over the same period of the previous year, and bringing full-year growth to 4.8% in 2017. Buoyant export growth likely supported the economy’s momentum last year, while recent figures revealed that foreign direct investment rose strongly in Q3. Moreover, the Central Bank stated in January that the current account deficit improved significantly last year, although the official figures are still outstanding. At the start of the new year, the country’s outlook is bright. Exports are expected to continue to prop up growth after a free trade agreement with China took effect at the start of January. Over 90% of Georgian products will now be tariff-free in China.
Georgia Economic GrowthA robust external sector and moderating price pressures should fuel another buoyant year of growth this year. FocusEconomics Consensus Forecast panelists project that GDP will grow 4.5% in 2018, which is up 0.1 percentage points from last month’s forecast. In 2019, growth is seen broadly steady at 4.4%.
Georgia Economy Data
5 years of Georgia economic forecasts for more than 30 economic indicators.
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|Exchange Rate||2.47||0.0 %||Feb 22|
|Stock Market||0.5||0.55 %||Feb 22|
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