According to Geostat, the Georgian economy shrank by 5.5% in July, while in the first 7 months of 2020 the economy shrank by 5.8%.
The National Statistics Office conducts monthly preliminary estimates of economic growth, which are calculated on the basis of departmental statistics, in particular, turnover, fiscal and monetary data of VAT taxpayer enterprises.
According to the Geostat report, the total turnover of VAT taxpayer enterprises in July reached 7.2 billion GEL, which is a decrease of 3.9% compared to the same period last year.
A record decline in the turnover of VAT taxpayer enterprises was observed in April, when the turnover decreased by 32.8% amounted to 4.2 billion GEL, in May - the turnover decreased by 22.2% to 5.4 billion GEL, while in June it decreased by 6.2% and the turnover of enterprises reached 6.5 billion GEL.
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