On Flash Estimate of Gross Domestic Product in the 2nd quarter of 2008

08.08.2008

In the 2nd quarter of 2008 compared to the same period of 2007 gross domestic product (GDP) value has increased by 0.2%, according to flash estimate of the CSB*.
In the 2nd quarter of 2008 the slowest economic development in recent years was observed. Recession of industry and retail trade value added is the reason for rate decrease of economic development. Development rate decrease in finance sector and drop in collection of product taxes (value added tax, customs duty) was observed.

However, positive growth remained in business activities sector and construction where projects taken up in previous periods were continued.

Changes of GDP value at constant prices, 1st quarter of 2001 - 2nd quarter of 2008

More precise and extended rate and volume of GDP increase on second quarter of 2008 will be published in the press release of September 8, 2008.

* Flash estimate includes change forecast of all economics at constant prices. Calculations are based on short-term statistics data and econometric models available at the moment.

Prepared by Nacional Acconts Section
Tel. 67366671
Alla Vanaga