Georgia Projected GDP Forecast 2019 - 2023

Updated: 26 March, 2019 seen 186

Wow, time flies, it has been already 5 years since I last time reviewed Georgia's GDP growth rates, back in 2013 I come up with a simple article: Georgia then, now, future

Here is what the International Monetary Fund projected for Georgia for 2018:

According to IMF, Georgian GDP will rise average 6% per year until 2018, and in 2018 it could be approx 21.81 bln USD

Georgia GDP Forecast 2014-2018

Georgia GDP Forecast 2014-2018

Although we don't yet have exact data for 2018 yet, it's believed that the GDP in Georgia was around 16,142 billion USD in 2018, in short, that's about 25% less than it was actually forecasted back in 2014.

Now, let's see what is forecast for the next 5 years (2019-2023) by the International Monetary Fund

Georgia GDP Forecast 2019-2023

Georgia GDP Forecast 2019-2023 (Data Source: List of countries by past and projected GDP (nominal)

According to the IMF, Georgian GDP (nominal) in 2023 could reach about 23,83 billion USD. Seems that IMF has used an average GDP growth rate at 8% annually. I would say these number looks a bit too high to me now,

As it turned out even those 6% annually IMF forecasted, turned out overoptimistic.  

The Bottom Line

I would say, the GDP nominal for Georgia in 2023 could reach 17.87 billions of USD. To get this number I took what IMF has forecasted (23.83 billion) and subtracted -25%