Page 11 - bne IntelliNews Georgia country report November 2017

3.1 Macroeconomic overview
Georgian economy grows 5% y/y in Sept, 4.7% in 9M
Georgia's annual GDP growth in September was 5%, national statistics agency Geostat reported on October 30.
Following a few years of depressed growth as a result of the wider economic slowdown in Central Asia, the Georgian economy grew by 4.9% y/y in the first half of 2017 and is expected to grow at rates exceeding 4% in the next two years, according to recent W orld Bank forecasts. The main factors behind the country's growth are its booming construction, real estate and tourism sectors.
According to Geostat, annual GDP growth in the first three quarters stood at 4.7%.
Meanwhile, reflecting inflationary pressures, the consumer price index (CPI) in September was up 6.2% y/y and 0.7% m/m. The producer price index for industrial goods increased by a steeper 13.4% y/y and 2% m/m.
11 GEORGIA Country Report November 2017 www.intellinews.com