ISET-PI has updated its forecast of Georgia’s real GDP growth rate for the first and second quarters of 2017. Here are the highlights of this month’s release:
• ISET-PI’s forecast for the first two quarters of 2016 has not changed from the previous prediction and stands at 3.2% and 4.3% respectively.
• We started forecasting the annual growth rate at the start of 2014 (see our January 2014 and February 2014 publications for a note on methodology). Based on the February’s data, we expect annual growth in 2017 to be 4% in the worst-case or “no growth” scenario, and 5.1% in the best-case or “average long-term growth” scenario. Our “middle-of-the road” scenario (based on the average growth in the last four quarters) predicts a 4.3% real GDP growth in 2017.
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