31.Aug .2020 11:38

Georgian economy dropped by 5.5% in July


Geostat published a new report. According to the report, estimated real Gross Domestic Product (GDP) declined by 5.5 percent in July 2020 YoY.

As of the Geostat’s report, the average rage of the first seven months of 2020 YoY has been 5.8 percent.

“In July 2020 the estimated real growth compared to the same period of the previous year was posted negative in almost all activities. Growth was registered in Mining and quarrying and Manufacturing”, report notes.

It should be noted, that economic drop rate has a declining trend, namely Georgian economy has dropped by 16.6% in April, -13.5% - May, -7.7% - June.