According to the Minister of Economy, the 5.5% decline in the economy in July confirms the mind set that the Georgian economy is on the path to recovery.

“The pace of economic decline from month to month is weakening and there are positive dynamics. We still have a decline in July, this year can not be positive, but the -5.5% observed in July is a slower rate of decline than even in April”, - said Natia Turnava.

Georgia’s real GDP contracted by 5.5% year-on-year in July, according to the preliminary data released by the National Statistics Office.

“In July 2020 the estimated real growth compared to the same period of the previous year was posted negative in almost all activities. Growth was registered in Mining and quarrying and Manufacturing”, - reads the report.