Page 14 - GEORptDec17

Real GDP Growth (in %; EBRD forecasts as of 7 Nov 2017)
Actual
Actual
Current forecast
Current forecast
Change in forecast since May’17
Change in forecast since May’17
2015
2016
2017
2018
2017
2018
Eastern Europe and the Caucasus
-4.8
0.1
1.6
2.7
0.5
0.2
Armenia
3.2
0.2
3.5
3.5
1
0.5
Azerbaijan
1.1
-3.1
-0.5
2
0
0
Belarus
-3.8
-2.6
1.5
2
2
1
Georgia
2.9
2.7
4.5
4.5
0.6
0.3
Moldova
-0.4
4.3
3
3.5
0
0
Ukraine
-9.8
2.3
2
3
0
0
Turkey
6.1
3.2
5.1
3.5
2.5
0.5
Russia
-2.8
-0.2
1.8
1.7
0.6
0.3
4.0 Real Economy 4.1 Industrial production
Industrial production surges 22.6% y/y in 1Q17
Georgia’s industrial production climbed 21.8% in the third quarter of 2017, compared to a 17.5% growth in the previous period, according to the National Statistics Office of Georgia.
Production increased at a faster pace for both manufacturing (24.3% in 3Q17 from 19.1% in 2Q17) and water supply sewerage, waste management and remediation activities (12.4% in 3Q17 from 8.5% in 2Q17). Meanwhile, production of electricity, gas, steam and air conditioning supply slowed (17.6% in 3Q17 from 20.8 in 2Q17).
Industrial production y/y in Georgia averaged 12.9% from 2000 to 2017.
14 GEORGIA Country Report December 2017 www.intellinews.com