April GDP Growth 0.9% – Preliminary Data

Georgia’s real GDP grew 0.9% in April, compared to the same month of last year, according to preliminary data released by the state statistics office, Geostat, on May 29.

Economy grew 2.6% year-on-year in the first four months of this year, according to preliminary data.

Real GDP growth was just 0.5% y/y in January; 4.9% in February and 4.4% in March.

Due to a significant slowdown in January and amid depreciation of national currency lari, the government announced in February about the intention to revise downward its economic growth forecast for 2015 from 5% to 2%.

But the state budget parameters have not yet been changed and remain set at 5% growth outlook.