ISET predicts economy to shrink by 3.5%

ISET predicts economy to shrink by 3.5%

access_time2021-01-26 10:00:30

ISET predicts Georgia’s  economy will continue to shrink in the first quarter of 2021. According to the research, the economy will shrink by 3.5% in January-March.

The country saw a 7.7% decline  in November while in the fourth quarter of the year ISET forecasts a 5.2% decline in the economy. The study says that tourism has had the biggest impact on the economic downturn. The number of international travelers fell by 91% in November.

In the third quarter of 2020, GDP at current prices totaled GEL 13 331.2 mln, while the real GDP declined  5.6 percent compared to the same period of last year.


Similar News