Georgia (Real GDP, yoy %)
Consensus (median)6.1
High estimate7
Low estimate5.2
Standard Deviation0.9
Count of Estimates2
Forecast Summary
Strong Gr.       
Strong Decl.       
Forecast Distribution
Company plot

According to the data of the national statistics office of Georgia, the real GDP growth increased from 2.8% in 2016 to 5% in 2017. This growth was driven by the construction, consumer goods trade, manufacturing, transport, financial services and real estate. Also on the back of increasing export volumes and prices, recovery in remittances from Russia and stable growth of earnings from tourism, the current-account deficit decreased. I forecast this trend of reducing current-account deficit will continue in 2018-2022, which will be also supported by growing private consumption and stable foreign direct investments inflows. In addition I think that political situation in the country will remain stable in the mid-term, so I have positive outlook on the economic development of Georgia.