According to GeoStat data, real GDP growth was 0.8% in January and 2.8% in February 2016. While these figures are by no means high, growth rates in the rest of the region are expected to be quite low this year. In this respect, in contrast to its neighbors, Georgia is performing reasonably well.
According to the World Bank GDP forecast made in January 2016, the Georgian economy will grow by 3.0% this year, which is above the expected growth of Eastern Europe (0.5%), Azerbaijan (0.8%), Armenia (2.2%), and Russia (-0.7%). The ISET-PI forecast for the first and second quarters of 2016 is 2.9% and 5.0% respectively. The recently-updated forecast predicts 3.3% year-over-year real growth in 2016. Download the full report
