Georgia expects serious economic recession

By Trend

Georgia expects serious economic recession in 2020, Minister of Economy and Sustainable Development Natia Turnava told reporters, Trend reports citing Georgian media.

Georgia has all the resources to make 2021 the year of economic growth, Turnava added.

“A 16.6-percent decline in the economic growth was expected in April, as a result of our policy. We had a state of emergency in the country, economic activity was substantially limited, and we did this deliberately to protect the population from the spread of the pandemic," the minister said.

Turnava noted that May will also be very difficult, as well as the rest of the year.

"A serious decline is expected in the economy in the whole world and in Europe. However, we have all the resources to make 2021 a year of growth and enterprises will be an integral part of this success,” Turnava said.