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What Contributed to the 0% Growth Rate in Many?

Published: July 2, 2013 | 11:49 am
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According to the data published by Sakstat, the economic growth rate for May 2013 was 0% compared to the same period last year. The expert Irakli Likvinadze identifies the upcoming presidential elections as the main contributing factor to the slowing of the economic growth. According to him, the heated political campaign has affected economic activity and investment, with businesses expecting significant changes, therefore choosing to observe the process, rather than be proactive. However, the results published by the national statistics service have been questioned by the head of the parliamentary Sector Economics Committee Zurab Tkemaladze, who believes the data to be inaccurate. Sakstat itself has declined to comment specifically on Mr. Tkemaladze’s views, but the acting Deputy Director Maia Gventsadze has stated that from January 2012 onwards, Sakstat has been carrying out preliminary assessments of the monthly economic growth rate based on the prices within the administrative, consumer and manufacturing sectors.

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