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January-July 2017: Georgia’s economy grows 4.4%

Thursday, August 31
Georgia’s economy is growing steadily, show the latest data from the National Statistics Office of Georgia (Geostat).

In July 2017, the estimated real Gross Domestic Product (GDP) growth rate amounted to 3.8 percent year-over-year (y/y).

Meanwhile, the estimated real GDP growth equaled 4.4 percent for the first seven months of 2017.

Various international financial institutions also have positive expectations about Georgia’s economic growth.

The World Bank Group projects Georgia’s economic growth will hit 3.5 percent in 2017 and four percent in 2018.

The International Monetary Fund (IMF) expects four percent growth for Georgia’s economy in 2017.

Global rating agency Fitch Ratings forecasts 4.2 percent growth in 2017 for Georgia.

As for government authorities, Finance Minister Dimitri Kumsishvili expected economic growth to exceed four percent this year. (