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Georgian Economy Grew by 2.1% In May 2016

According to preliminary estimates, the real GDP growth rate made up 2.1% in May 2016, while the average real growth of the first five months amounted to 2.9% compared with the same period last year.

According to the information provided by Geostat, exports of goods (FOB) decreased by 11% in January-May 2016, while imports of Goods (CIF) increased by 7.7%.

During this period, external merchandise trade turnover grew by 3.4% and made up 4 069.9 million US dollars. It can be concluded that export  increased, while imort decreased in comparison with the monthh of April 2016.

In addition, in May 2016, the number of currently registered enterprises made up 3 662. As a result, the data is increased by 2.9% compared with the previous year’s corresponding month. 

Growth of VAT payers’ turnover used in rapid estimations of economic growth decreased by 0.4%.

As for the indicators of the state budget, in May budget revenues exceeded costs. Thus, expenses made up 683.5, while revenues were 730.2 million.