Q3’16 GDP Growth 2.3% – Preliminary Data

Georgia’s real GDP grew 2.3% y/y in the third quarter of 2016, according to the preliminary data released by the state statistics office, Geostat, on Monday.

Georgia’s economy grew 2.7% in the first quarter and 3% in the second quarter of 2016, according to Geostat’s preliminary data.

Economy grew 2.5% in the first ten months of this year.

According to the amendments to the 2016 state budget, which are expected to be approved by the Parliament this week, government’s 3% economic growth forecast is reduced to 2.7% – Georgia’s economy expanded by 2.9% in 2015, the weakest growth since 2009.

Next year the government forecasts 4% economic growth, according to the 2017 state budget approved by the Parliament last week.

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