Gross domestic product grew by 44.8% chin

Date

The National Statistics Center of Georgia conducts and publishes preliminary estimates of economic growth on a monthly basis. The results are obtained using internationally recognized methodology, which involves the calculation of departmental statistics. This process involves the processing of turnover, fiscal and monetary data of enterprises paying value added tax (VAT). On May 31, 2021 Geostat released a preliminary estimate of economic growth for April, which shows that GDP growth is 44.8% compared to the same period last year. The average index for the first four months of 2021 is 8.1 percent.

The Georgian Business Association (BAG) responded positively to these data. According to them, the study really shows positive trends, especially against the background of the fact that the economy has suffered significantly due to the epidemiological situation, under various regulations and lockdown.

The government names the repealed regulations as a driving factor for the stabilization and growth of the economic growth rate in April, which contributes to the rapid growth of the economy. In addition, opening of land borders is named as one of the positive factors. We would like to remind you that the land border of Georgia was opened by the decision of the Government of Georgia on May 25, which came into force on June 1.  Crossing the border will be allowed for those who submit a complete vaccination document and or a negative PCR test obtained in the last 72 hours.

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Source : https://www.geostat.ge, https://bag.ge, http://gov.ge

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