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Economic Growth in October Hit 5.7%

According to preliminary estimations, as compared to the same period of 2016, in October 2017 real GDP growth pace made up 5.7%, while the 2017 January-October real upturn constituted 4.9%.

According to Geostat, national statistics service of Georgia, the growth was recorded in the following fields: hotels and restaurants, processing industry, commerce, transport. Slowdown was recorded in housing and real estate operations.

A total of 5 468 new companies were registered in the reporting period, up 48.5% year on year. Turnover of VAT payer companies has risen by 17.2% to 5 863.1mln GEL.