ISSN 2330-717X

Georgia: GDP Grows 1.3% In October

Location of Georgia. Source: CIA World Factbook.Location of Georgia. Source: CIA World Factbook.

(Civil.Ge) — Georgia’s real GDP grew 1.3% in October, after 1.5% growth in September, according to preliminary data released by the state statistics office on November 30.

Economy grew 2.5% in the first ten months of this year, according to Geostat’s preliminary data.

Government’s forecast for 2016 economic growth stands at 3%. But PM Giorgi Kvirikashvili, who appeared before lawmakers last week as part of confirmation hearings for his cabinet, said that the government projects 2.7% economic growth this year.

Kvirikashvili also said that the government expects 3.4% economic growth next year, but initial draft of 2017 state budget projects 4% economic growth.

Georgia’s economy expanded by 2.9% in 2015, the weakest growth since 2009.

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Civil Georgia is a daily news online service devoted to delivering quality news and analysis about Georgia. Civil.Ge is run by The UN Association of Georgia, a Georgian non-governmental organization, in frames of ‘National Integration and Tolerance in Georgia’ Program financed by USAID. Civil Georgia is also supported by Friedrich Ebert Stiftung.

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