Real Estate
Posted: 1 month ago

Construction Sector's Growth Slowing Down in Georgia

 

According to the National Statistical Office, in the second quarter of 2019 the construction sector declined by 4.6%.

Amid a 4.5% GDP growth, a decline was observed in education, mining, construction and processing industry .

In the first quarter the sector declined by 9.6%.

The construction sector’s growth slowdown was caused by  banking and construction regulations introduced by the government and the National Bank.

Government officials are already talking about the need to revise the regulations. Kakha Kaladze said in June that "banking regulations hinder economic growth."