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Geostat: Georgia’s GDP Shrank by 13.5% in May

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Georgia’s real GDP contracted by 13.5% year-on-year in May, according to the preliminary data released by the National Statistics Office (Geostat) on June 30.

“In May 2020 the estimated real growth compared to the same period of the previous year was posted negative in almost all activities,” Geostat said.

The corresponding figure stood at -16.6% and -2.7% in April and March, after 2.2% and 5.1% y/y growth in February and January, respectively.

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