08.Sep .2020 11:45

Real GDP drop further moderated to 5.5% YoY in July

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According to the initial estimates, real GDP drop further moderated to 5.5% YoY in July, following a 7.7% contraction in the previous month.

Lesser GDP decline compared to the previous month is attributable mostly to the stronger fiscal stimulus as well as continued normalization of the economic activity after the lockdown.

All sectors remain in negative territory except mining and manufacturing, for which growth turned positive in July, according to GeoStat.