Estimated real Gross Domestic Product (GDP) declined by 3.9 percent in October 2020. Such a statement made today Gogita Todradze, the executive director of the National Statistics Office.
“According to the declared data of VAT-paying enterprises, in October 2020, compared to the same period last year, the economy of our country shrank by 3.9%. Therefore, the average rate of decline in the first 10 months is -5.1%”, - added Todradze.
Geostat produces monthly rapid estimates of real GDP growth rate using administrative data on VAT taxpayers’ turnover, fiscal and monetary statistics.