Economy
Posted: 1 week ago

Economy Grew by 5.2% in September in Georgia

The economy expanded by a healthy 5.2 percent year-on-year (yoy) in September.

Construction and services sectors performed well, while mining and social services contracted.

The recovery in the construction sector was also driven by accelerated public investments. On the services side, growth was registered in trade, transport and hospitality sectors. On
the demand side, improving labor markets, stable credit and higher public spending supported domestic demand, while export growth moderated. With this, the
growth rate in the third quarter of 2019 reached 5.7 percent yoy and in the nine months of the year 5 percent.

Growth is projected to slow in the final quarter of the year in response to the monetary policy tightening and weakening household and business sentiments.