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economy recession

Georgia’s GDP declined by 5.3% in August 2020

3 mins read

The FINANCIAL — National Statistics Office of Georgia published data of rapid estimates of economic growth. Estimated real Gross Domestic Product  (GDP) declined by 5.3 percent in August 2020 YoY. Asian Development Bank’s new report says that Georgia is forecast to return to the economic growth of 4.5 % in 2021 thanks to expected recoveries in tourism, private consumption, investment and net exports. In Q2 2020 the nominal GDP amounted to GEL 11 210.0 million. Estimated real gross domestic product (GDP) declined by 5.3 per cent in August 2020 year-on-year and by 5.6 per cent in the first eight months of 2020 year-on-year,…

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Georgia’s GDP declined by 5.3% in August 2020

3 mins read

The FINANCIAL — National Statistics Office of Georgia published data of rapid estimates of economic growth. Estimated real Gross Domestic Product  (GDP) declined by 5.3 percent in August 2020 YoY. Asian Development Bank’s new report says that Georgia is forecast to return to the economic growth of 4.5 % in 2021 thanks to expected recoveries in tourism,…

World’s biggest economies are heading for a recession

5 mins read

The FINANACIAL — There are signs that some of the world’s top economies could slump as coronavirus outbreak compounds pre-existing weaknesses. Japan’s economy shrank at an annual pace of 6.3% last quarter. The closely-watched ZEW Indicator of Economic Sentiment in Germany decreased sharply. The rising cost of the coronavirus outbreak for business and the world…