September GDP Growth 4.1% – Preliminary Data

Georgia’s real GDP grew 4.1% year-on-year in September after 5.2% growth in August, according to preliminary data released by the state statistics office, Geostat, on Thursday.

Economy grew 5.5% y/y in the third quarter and there was 5.9% y/y growth in the first nine months of this year, according to preliminary data.

Government’s forecast for GDP growth in 2014 stands at 5% and it projects the same figure for next year.
 
Fitch revised this month outlook on Georgia from stable to positive and affirmed country’s sovereign rating ‘BB-‘, three notches short of investment grade. Moody’s Investors Service did the same in August.