30.Nov .2021 12:30

Georgian Economy Up By 10.5% In 10M2021

Georgian Economy Up By 10.5% In 10M2021
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Estimated real Gross Domestic Product (GDP) growth rate equaled to 10.5% in 10M2021, - show the preliminary data from the National Statistics Office of Georgia (Geostat).

According to the report, a 4.1% decline was observed in 1Q2021 instead of growth, while 28.9% growth was registered in Q2 and the increase amounted to 9% in Q3. GDP growth made up 6.9% in October of the current year. The government forecasts 10% growth this year.

"In October 2021 the estimated real growth compared to the same period of the previous year was observed in the following activities: Manufacturing, Transportation and storage, Arts, entertainment and recreation, Electricity, gas, steam and air conditioning supply, Financial and Insurance activities, Hotels and restaurants, Trade. A decline was registered in Construction", - the report reads.

VAT taxpayers’ turnover made up GEL 9.7 billion in October, which is 25.6% more compared to the previous year.