Georgia Economic Outlook
July 3, 2018Georgia’s economy began the year at a robust pace, with preliminary results showing annual GDP growth of 5.3% in the first quarter, just a notch below the previous quarter’s three-and-a-half-year high. Strong growth in Q1 was underpinned by healthy consumer spending bolstered by easing inflationary pressures, as well as a robust external sector amid surging demand from Georgia’s key trading partners—particularly Turkey and Azerbaijan. The economic momentum appears to have carried over into the second quarter. Household consumption likely continued to benefit from lower inflation through May and nominal exports jumped 50.2% annually in the month against the backdrop of the ongoing pro-trade policy push by the country’s government.
Georgia Economic GrowthTighter labor market conditions and moderating inflationary pressures, coupled with lower interest rates, should buoy domestic demand this year. Economic growth will be further buttressed by a sturdy external sector, with strong export growth seen carrying over into the second half of the year. Our panelists expect GDP to grow 4.6% in 2018, unchanged from last month’s forecast, and 4.6% again in 2019.
Georgia Economy Data
5 years of Georgia economic forecasts for more than 30 economic indicators.
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|Exchange Rate||2.46||0.0 %||Jul 17|
|Stock Market||0.5||0.55 %||Jul 17|
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