The government expects the economy to shrink by 1.5% in September. Beka Liluashvili, Economic Advisor to the Prime Minister declared it in an interview with Giorgi Isakadze on #Forbestalks.
"5% economic growth is not an internal assessment of the Minister of Finance. We have an ongoing program with the International Monetary Fund that arrives, evaluates and calculates. I think it would not be adequate to cast doubt on international expertise. We believe that 5% growth is a realistic figure for 2021.
In addition to these estimates, we follow month by month. We started from -17%. The rate for August has been -5.1%. However, the rate for September will be at -1.5%. If we are positive from month to month, it means that we have already started recovery process. This industry (tourism) and the results of this industry can be overcome by other sectors. However, we know that it will not be possible to balance this completely", Liluashvili said.
Tomorrow, Geostat will publish a preliminary assessment of economic growth trends in September 2020.
