Georgian economy shrinks 7.7% in June 2020

  • In June 2020 estimated real growth compared to the same period of the previous year was negative in almost all activities, said Geostat. Photo: Nino Alavidze/Agenda.ge.

Agenda.ge, 31 Jul 2020 - 12:12, Tbilisi,Georgia

Estimated real gross domestic product (GDP) declined by 7.7 per cent in June 2020 year-on-year and by 5.8 per cent in the first six months of 2020 year-on-year, show the latest data from the National Statistics Office of Georgia (Geostat).

In June 2020 estimated real growth compared to the same period of the previous year was negative in almost all activities, other than mining and quarrying and water supply, sewerage, waste management and remediation activities.

The World Bank’s recent report Global Economic Prospects 2020 reads that the real GDP will decline in 2020 in Georgia and is estimated to be -4.8 per cent, with projected recovery of growth at 4 per cent in 2021. 

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