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January GDP Growth 0.5% – Preliminary Data

Georgia’s real GDP growth was 0.5% year-on-year in January, according to preliminary data released by the state statistics office on Friday.

Government plans to more than halve its growth forecast for this year.

Economy Minister Giorgi Kvirikashvili said on February 25 that 2015 economic growth is expected to be 2% instead of initially forecasted 5%.

The 5% growth target was set in the state budget, which was approved by the Parliament in late December.

Georgia’s economy grew 4.7% last year, short of government’s 5% forecast, according to preliminary data.


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