16.Jul .2020 17:42

“Particular positive signs are already present in our economy; activities beyond the tourism sector are clearly growing”

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“Particular positive signs are already present in our economy, and activities beyond the tourism sector are clearly growing”, Georgian Prime Minister Giorgi Gakharia stated during today's Cabinet meeting.

According to the Prime Minister, the effective management of risks related to virus spread is the only way for the country to stabilize the economy to ensure further rapid recovery.

"As we have said repeatedly, we are fighting on two fronts, and we must always remember that the health of our citizens and virus-related risk management is the ultimate precondition for considering rapid economic recovery. Activities have grown significantly in several areas, especially since the announcement of state support programs-in the construction segment, for one. Also, real estate sales have increased drastically in the past month.

We should also keep in mind that, despite our quite pessimistic projections-with the exception of reexport, which reflects the condition of our economy in the region-export has decreased by 6-7%, so our calculations have been more pessimistic," Giorgi Gakharia stated.