Georgia: GDP Grows 2.6% For Seven Months, Compared To 6.2% Same Period Last Year

Georgia’s real GDP grew 3% year-on-year in July, according to preliminary data released by the state statistics office Geostat on Monday.

The cconomy grew 2.6% year-on-year in the first seven months of this year, according to Geostat. GDP growth in the same period of last year stood at 6.2%.

Parliament confirmed on July 17 amendments to the 2015 state budget cutting economic growth forecast from 5% to 2% and reducing targeted tax revenues by GEL 200 million to GEL 7.4 billion.