About Civil.ge
Eng | Geo | Rus
Last updated: 10:55 - 1 May.'18
July GDP Growth 7.2% - Preliminary Data
Civil Georgia, Tbilisi / 29 Aug.'14 / 13:44

Georgia’s real GDP grew 7.2% year-on-year in July after 6.2% growth in June, according to preliminary data released by the state statistics office, Geostat, on Friday.

Economy grew 6.2% y/y in the first seven months of 2014, according to Geostat.

Real GDP growth in the second quarter was 5.1% after 7.1% growth in the first quarter, according to preliminary data.

Last week Moody's Investors Service upgraded outlook on Georgia’s sovereign rating from stable to positive and affirmed Ba3 rating, three notches below investment grade.

“The key driver of… outlook change is the entering into force in September 2014 of Georgia's Deep and Comprehensive Free Trade Area (DCFTA) with the EU, which Moody's expects will attract further foreign direct investment (FDI) and bolster the country's export performance. This should in turn support an improvement in Georgia's external position over the medium term,” the rating agency said on August 22.

“The affirmation of the Ba3 rating reflects the combination of external vulnerability and geopolitical risks in the near term, as well as the volatile nature of the Georgian economy,” it said.

Fitch ratings agency said on June 30 that signing of the Association Agreement, also including deep and comprehensive free trade area, with the EU will be “a positive long-term development” for Georgia's sovereign credit profile, but “it does not have an immediate impact on our ratings assessment, which remains focused on the nearer-term prospects for external finances and economic growth.”

Fitch affirmed in May Georgia's sovereign rating 'BB-', also three notches short of investment grade, with stable outlook. Fitch plans its next scheduled review on Georgia in October.

Latest News
01 May.'18 10:55
We Have Moved to a New Platform
Direct Your Bookmarks to https://civil.ge.
29 Apr.'18 03:54
Ruling Party Candidate Wins MP By-Elections
Givi Chichinadze will represent Vani and Khoni single-mandate constituency in the Parliament of Georgia.
28 Apr.'18 09:40
Polls Open for Vani and Khoni MP By-Elections
48,123 voters are eligible to cast their ballots in Vani and Khoni single-mandate constituency.
27 Apr.'18 17:23
State Dept’s Europe Affairs Point Man to Visit Tbilisi
Wess Mitchell will meet senior government officials and address the NATO-Georgia Public Diplomacy Forum.
27 Apr.'18 13:45
In Quotes: Georgian Politicians on Ex-PM Bidzina Ivanishvili’s Comeback
Bidzina Ivanishvili will be approved as the Georgian Dream party chairman at the upcoming convention.
26 Apr.'18 18:15
SG Jens Stoltenberg: Georgia NATO’s ‘Very Close’ Partner
The NATO Secretary General says Foreign Ministers meeting tomorrow will recognize the country’s progress.
26 Apr.'18 14:24
Ex-PM Ivanishvili to Chair Georgian Dream Party
Prime Minister Giorgi Kvirikashvili said Ivanishvili was ‘best equipped’ to add new dynamism to the party.
26 Apr.'18 11:12
Lawmaker Proposes Criminal Liability for ‘Insult of Religious Feelings’
The parliamentary human rights committee decided to set up a working group for scrutinizing the draft law.
25 Apr.'18 17:21
New Abkhaz Government Head Appointed
Gennady Gagulia has served as the Abkhaz “prime minister” twice - in 1995-1997, and 2002-2003.
25 Apr.'18 14:43
Watchdog Improves Georgia’s Press Freedom Ranking
None of the countries of the former Soviet Union (except the Baltics) are ranked ahead of Georgia.

About Civil Georgia
Civil.Ge © 2001-2021, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.