12.Oct .2020 22:22

Minister of Economy: We Lost One Year, but We Are Experiencing V-Shape Recovery

Minister of Economy: We Lost One Year, but We Are Experiencing V-Shape Recovery
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In her recent interview with The CheckPoints, the Minister of Economy, Natia Turnava, overviewed the damage caused by the pandemic, as well as the current state of the economy and future possibilities.

According to Turnava, the pandemic has caused a global momentum of uncertainty.

"It's still tough to predict how long it will take to overcome the problem of the pandemic, also considering the regional escalation of the frozen conflicts. However, the good thing is that Georgia has a great margin of safety in Georgia, which gained many reserves during previous years, meaning the high economic growth, which in the year of 2019 was quite successful and amounted to 5.1 percent,"- she said.

As for the trend of economic recovery, Turnava recognizes GDP drop figures and emphasizes reducing negative trends.

"In terms of GDP growth, we cannot be different from the rest of the world. However, if we talk about annual figures, starting in May, we see that this drop in GDP is reducing, this negative trend is reducing. It means that we are experiencing so-called V shape recovery, which gives us a good level of confidence that the year 2021 will be positive plus five in GDP growth. Of course, it means that we lost one year, but I think our situation is much better than the one in the region,"- she said.