In 2017, ISET expects 6.3% economic growth in Georgia

In 2017, ISET expects 6.3% economic growth in Georgia

In the first quarter of 2017, economic growth indicator in Georgia was 5%, which has been the highest figure since the third quarter of 2014.

ISET relates the increased pace of economic growth with improved economic situation in regions. However, in April, economic growth dropped by 1,2%. Despite this fact, ISET has positive expectations with regard to the second and third quarters and forecasts GDP growth 5,8% in second and 6,9% in third quarters.

As to the annual value, in case of “worst scenario”, ISET expects growth of 6,2% and 6,6% economic growth in ideal situation. Average economic growth in Georgia, forecasted by ISET, is 6,3%.

It should be mentioned that for the current year, international financial institutions forecasted 3,5-3,8% economic growth in Georgia and part of these institutions (ADB, IMF and WB) reduced their forecast for economic growth in Georgia.

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