30.Jun .2020 11:29

Georgian economy decreased by 13.5% in May


In May, Georgia's economy shrank by 13.5%, whereas Georgia's economy decreased by 5.4% in the first five months of 2020.

"In May 2020, the downward trend was observed in almost all sectors compared to the same period of the last year," Geostat reports.

Export decrease of 16.1% and 22% reduction of VAT-taxpayers’ turnover had an impact on the decline of the economy.

The Georgian government expects economic decline of 4% in 2020.