Pandemic causes momentum of uncertainty in Georgia
BAKU, Azerbaijan, October 13
By Tamilla Mammadova – Trend:
The COVID-19 pandemic has caused a global momentum of uncertainty in Georgia, said Minister of economy and sustainable development of Georgia Natia Turnava, Trend reports via Georgian media.
"It's still tough to predict how long it will take to overcome the problem of the pandemic, also considering the regional escalation of the frozen conflicts. However, the good thing is that Georgia has a great margin of safety, meaning the high economic growth, which in 2019 was quite successful and amounted to 5.1 percent," she said.
As for the trend of economic recovery, Turnava recognizes GDP drop figures and emphasizes reducing negative trends.
"In terms of GDP growth, we cannot be different from the rest of the world. However, if we talk about annual figures, starting in May, we see that this drop in GDP is reducing, this negative trend is reducing. It means that we are experiencing so-called 'V shape' recovery, which gives us a good level of confidence that the year 2021 will be positive plus five in GDP growth," she said.
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