August GDP Growth 5.2%

Georgia’s real GDP grew 5.2% year-on-year in August after 7.2% growth in July, according to preliminary data released by the state statistics office, Geostat, on Tuesday.

Economy grew 6.1% y/y in the first eight months of 2014, according to Geostat.

Government’s forecast for GDP growth in 2014 stands at 5%.

The same figure is forecasted by the government for next year, which, Finance Minister Nodar Khaduri said on September 30, is a conservative estimate.

Real GDP growth in the second quarter of 2014 was 5.2% y/y. Trade and industry accounted for 16.9% and 16.2% of GDP in the second quarter, followed by transport and communication with 11%; public administration – 10.2%; agriculture – 9.2% and construction 7.4%.

Economy grew 7.1% y/y in the first quarter, according to preliminary data. (Civil.ge)