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30.Sep .2020 15:15

Georgian economy shrinks 5.3% in August 202

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Estimated real gross domestic product (GDP) declined by 5.3 per cent in August 2020 year-on-year and by 5.6 per cent in the first eight months of 2020 year-on-year, show the latest data from the National Statistics Office of Georgia (Geostat).

In August 2020 estimated real growth compared to the same period of the previous year was negative in almost all activities, other than mining and quarrying.

“According to preliminary estimates, the situation in August compared to July, although slightly, has improved somewhat. We are facing a 5.3 per cent decline in the economy", said Geostat Director Gogita Todradze.