Georgia's economic growth exceeds 6.5 percent in May

Photo: Georgia's economic growth exceeds 6.5 percent in May
 / Georgia

Tbilisi, Georgia, June 27
By Nana Kirtzkhalia - Trend:

The turnover of VAT paying enterprises increased by 12.9 percent from January to May 2014 compared to the same period of 2013, Georgian Finance Minister Nodar Khaduri said at a briefing on June 26.

"The finance ministry has completed analyzing the economic indices for the five months of the year," he said. "The relevant information is based on the payers' declared information about their turnover."

"The turnover of VAT paying enterprises increased by 11.6 percent in May this year compared to May last year," the minister said. "This means that the economic growth hit more than about 6.5 percent in May and seven percent from January to May."

Khaduri stressed that the biggest growth was observed in the construction sector in May 2013. Its turnover increased by 18 percent. The transport and communication hit 15.4 percent, real estate - 8.2 percent, trade - 7.2 percent.

"Little growth was not recorded in any area in May 2014," he said.

"The economic activity increased by 12.9 percent from January to May compared to the same period of last year," the minister said. "In this regard, the growth rate in construction was 26.2 percent, agriculture - 23.7 percent, real estate and lease transactions - 17 percent, mining and processing industry - 11.5 percent, transport and communication - 9.7 percent."

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