Geostat: GDP Growth 2.2% in 2016

Georgia’s real GDP grew 0.3% in December, after 2% growth in November, according to preliminary data released by the state statistics office on January 30.

The estimated annual growth of real GDP stood at 2.2% in 2016, the weakest growth rate since 2009. 

Georgia’s economy expanded by 2.9% in 2015, lower than 4.6% in 2014, 3.4% in 2013 and 6.4% in 2012.

The 2016 economic growth forecast was reduced from 3% to 2.7% as a result of budgetary amendments approved on December 21. 

The Government forecasts 4% economic growth in the 2017 state budget.