24 January, 2023 seen 8,843Gudauri is a popular winter resort located in the Republic of Georgia, Caucasus some 120 km from Tbilisi. I first…
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
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 (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.