BAKU, Azerbaijan, August 31
By Tamilla Mammadova – Trend:
According to the Minister of Economy and Sustainable Development, Natia Turnava, a 5.5 percent economic decline in July proves that the Georgian economy is on the recovery path, Trend reports via Georgian media.
Meanwhile, the Georgian economy shrank 5.5 percent year-on-year in July. In the first 7 months of 2020, the economy decreased by 5.8 percent. In July 2020, the estimated real growth compared to the same period of the previous year posted negatives figures in almost all categories.
Growth was registered in mining and quarrying as well as manufacturing.
The minister said while commenting on the economic growth rate in July that the pace of economic decline from month to month is weakening and positive dynamics are observed.
"The economy shrank in July this year which is not positive, but -5.5 percent in July is a slower rate than in April," Turnava said.
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