Georgia's economy grew 18.7% in June

Georgia's economy grew 18.7% in June

access_time2021-07-30 17:21:47


“In June a high economic growth of 18.7% was recorded in the country that is an unprecedentedly high rate. The growth was observed  not only in 2020, but also in the pre-pandemic 2019 when  the growth stood at  9.5%.  The country’s economy has grown even compared with  a successful 2019, ” Minister of Economy Natia Turnava states.

According to her, growth was recorded in almost all areas, especially in the processing industry, the financial sector, the hospitality industry, construction and trade.

“These are the sectors  that are the largest employers in Georgia. We expect  the country’s economy to  grow by 7,7%. We hope that jobs will grow along with the economy, ”she says.

 


According to the National Statistics Office , in the first half of 2021 the economy grew by 12.7%, while in the first quarter the country saw  a 4.5% decline,  in the second quarter – by  29.8%.

 

Compared to June 2020,  in June 2021 almost all sectors - processing industry, finance, insurance, transport and warehousing, trade, hotel and restaurant sectors, real estate transactions posted a growth.

 

A decline was recorded in the construction and mining.


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