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Georgia's economy shrinks by 11.5% in January

Business and Finance

Georgian Dream won the parliamentary elections in October last year, but the opposition said that the vote was rigged and accompanied by violations.

Georgia's economy shrinks by 11.5% in January

In January 2021, the Georgian economy contracted by 11.5%. This was announced on Friday by the executive director of the National Statistics Service of Georgia, Gogita Todradze.

According to him, in January, compared to the corresponding period of last year, there was a decrease in the following areas of activity: construction, transport and warehousing, manufacturing, provision of accommodation facilities, art, entertainment and recreation, activities related to real estate. At the same time, growth was observed in the areas of information and communication, finance and insurance.

At the same time, as the official said, in January 2021 the number of newly registered enterprises amounted to 2.8 thousand, which is 23.3% less than in the same period last year.

According to the IMF forecast, Georgia's economy will grow by 3% in 2021, while inflation will drop to 3.7%.

Today, hundreds of people took to the streets of the Georgian capital Tbilisi to demand the release of opposition leader Nika Melia.

On Tuesday, police detained Melia, chairman of the opposition United National Movement (UNM), after storming its offices and clashing with his supporters.

Melia is accused of inciting violence during street protests in June 2019, but he dismisses the charge as politically motivated.

The case prompted Prime Minister Giorgi Gakharia to step down and warn that Melia's detention could exacerbate political divisions in the country of 3.7 million.

The United States and other Western countries have expressed concern about Melia's detention and said it could harm prospects for dialogue between the opposition and the ruling party.

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