Georgia’s economy grew by 4.8% YoY in the first eight months of 2018, announced the National Statistics Office of Georgia (Geostat).
The estimated real gross domestic product (GDP) growth rate in August was 2%, Geostat said.
Last month the estimated real growth, compared to the same period of the previous year, was posted in the following activities: Financial Intermediation, Trade, Transport, Real estate activities and Hotels and restaurants.
Various international financial institutions also have positive expectations for Georgia’s economic growth.
In 2018 the World Bank predicts Georgia’s economic growth to hit 4.2%, while the European Bank for Reconstruction and Development (EBRD) says Georgia’s economy will grow by 4.5%.
The Asian Development Bank (ADB) raised Georgia’s 2018 growth forecast to 4.9% from the April 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. (Agenda/Business World Magazine)