June data show decrease in economic growth

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Photo: geostat.ge

In June 2013, the economic growth rate of Georgia was negative - for the first time since the Russia-Georgia war in August 2008 and the global financial crisis. According to preliminary data of the National Statistics Office of Georgia, the real growth of Gross Domestic Product dropped by 0.8% in June 2013, as compared to the corresponding period of the previous year

According to the same official data, the second quarter of 2013 saw a 6.9% decrease in the economic growth against the corresponding indicator of the last year. In the second quarter of 2012, the country's economy grew by 8.2% whilst in the same period in 2013, it grew by a mere 1.3%.

Official statistics also show the decrease in foreign trade turnover by 3.1% and in the turnover of VAT-payer enterprises by 3.2%, compared to the corresponding period in 2012.

During the first six months of 2013, the Georgian economy increased only by 1.8%.

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