TBC Capital published weekly update from the Chief Economist. According to the report, Georgia’s economy grew by 6.9% y/y in September, slower than in August, based on Geostat’s rapid estimates.
Notably, real GDP of September 2021 was also up by 6.1% compared to September 2019 level. Cumulatively, in 9M21, growth is estimated at 11.3% y/y, surpassing 9M19 level by 4.8%.
In September, economic activity was up in all sectors except construction. The growth was fuelled by government spending, robust credit growth, strong remittances and continued recovery in tourism.
