Page 16 - GEORptDec20

For Armenia, the ADB in June forecast a GDP contraction of 3.5%, but it is now expecting a 4% decline.
The forecast for Georgia remains unchanged, with a 5% GDP reversal expected.
The changed forecasting for inflation can be seen in the second of the ADB tables at the foot of this article.
4.0​ Real Economy 4.1​ Industrial production
Industrial production rises 8.4% y/y in 1Q20
Georgia’s industrial production increased 8.4% in the first quarter of 2020, easing from a 12.2% y/y rise in the fourth quarter last year, according to the National Statistics Office of Georgia.
Production expanded at a slower pace for manufacturing and electricity, gas, steam and air conditioning supply sectors. Meanwhile, output rose in the mining and water supply and waste management sectors.
16​ GEORGIA Country Report ​December 2020 ​ ​www.intellinews.com