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Georgia's GDP grew 11.3% in 9M
TBILISI. Oct 29 (Interfax) – Georgia’s GDP grew 11.3% year-on-year in January-September 2021, the National Statistics Service said.
GDP rose 6.9% year-on-year in September alone and 9% year-on-year in Q3 2021. It grew 9.9% in July and 10.3% in August.
GDP grew in September in manufacturing, finance and insurance, transport and logistics, trade, hotels and restaurants, real estate, power, gas, steam and conditioned air supply and culture, leisure and recreation. It fell in construction.
Georgia’s 2021 budget originally targeted economic growth of 4.3%, but the government amended the budget in July to reflect an improved GDP growth forecast of 7.7%, later raised to 9.5%.
The International Monetary Fund forecasts GDP growth in 2021 at 7.7%, the European Bank for Reconstruction and Development expects 4.5%, the Asian Development Bank – 8.5% and World Bank – 8%.
Georgia’s GDP fell 6.2% in 2020 after rising 5% in 2019.
