Economic growth in Georgia and the countries of the region

Economic growth in Georgia and the countries of the region

In June, the rate of growth of actual Gross Domestic Product in Georgia made 4,6%, the average actual growth of GDP in the second quarter of 2017 made 4,0% and the average actual growth of GDP in the first six months of 2017 made 4,5%.

Among the countries of the region, the highest growth rate has been registered in Kazakhstan, where according to preliminary data, in June, economic growth made 5,8%. According to the information provided by G&T, in June, economy of Armenia grew by 5,1% and Russian economy grew by 4,8%. In the first half of the year, in Belarus, GDP growth rate made 1,0%, and -1,3% – in Azerbaijan. In Ukraine, economic growth rate was 2,5% within the first 6 months of the year.

In July, inflation rate in Georgia was 6%.

Among the countries of the region, the highest inflation rate was registered in Ukraine, where the rate of growth of consumer price index made 15,6% in June. In Turkey, inflation rate was 9,8%, in Russia – 3,9% and in Kazakhstan – 7,1%. In Armenia, the level of inflation made 0,9%, in Belarus – 6,5%. In Azerbaijan -14,4% deflation rate was registered.

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