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Georgia economic growth accelerates to 4.8 pct y/y in Jan-Feb
March 30, 2017 / 9:16 AM / 6 months ago

Georgia economic growth accelerates to 4.8 pct y/y in Jan-Feb

TBILISI, March 30 (Reuters) - Georgia’s economic growth accelerated to 4.8 percent year-on-year in January-February 2017 from 1.7 percent in the same period a year ago, the National Statistics Service said on Thursday, helped by a rise in exports and remittances.

In February alone growth was 4.4 percent, up from 2.6 percent in February 2016, but down from 5.2 percent in January 2017.

The former Soviet republic, through which pipelines carry Caspian oil and gas to Europe, is recovering from a fall in exports and plunge in the currencies of its main trading partners that have depressed economic growth in recent years.

Georgia’s economy expanded by 2.2 percent last year, down from 2.9 percent in 2015.

The government in Tbilisi expects the economy to grow by 4 percent in 2017.

Reporting by Margarita Antidze; Editing by Alexander Winning and Toby Davis

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