April 24, 2020 / 10:31 AM / a month ago

Georgia expects its economy to contract 4% in 2020 - prime minister

TBILISI, April 24 (Reuters) - Georgia expects its economy to contract 4% in 2020 due to the spread of the coronavirus, the ex-Soviet country’s prime minister said on Friday.

Giorgi Gakharia told the government the economy would lose 1.8 billion lari ($563 million) in revenue this year.

The government had been projecting 4.5% growth this year.

The South Caucasus country of 3.7 million has so far reported 431 confirmed cases of the coronavirus, with five deaths. (Reporting by Margarita Antidze; Editing by Alison Williams)

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