Georgia expects growth rate of economy to increase
BAKU, Azerbaijan, April 29
By Tamilla Mammadova – Trend:
Some 4-percent economic growth in March is proof that Georgia's balanced approach is justified, said Georgian Economy Minister Natia Turnava, Trend reports via Georgian media.
According to her, the country is clearly experiencing economic growth, even though it is still in the third wave of COVID-19 pandemic, and it still poses a considerable threat.
Turnava said that the rate of economic growth is expected to be even higher by the end of the year.
“We expect an increase in the rate of economy growth in the future. We are able to restore industries, tourism is slowly recovering, and this gives us hope that by the end of the year we will have quite a significant economic growth,” she said.
The Georgian economy grew by 4 percent year-on-year in March 2021, posting growth for the first time in a year, said the National Statistics Office of Georgia (Geostat).
As reported, the average real gross domestic product (GDP) declined by 4.2 percent in the first quarter of 2021 year-on-year.
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