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. Last Updated: 07/27/2016

Steep Decline In CIS Output

Industrial output in the CIS was 31 percent lower in July than last December, Interfax said Thursday. Output fell 12 percent in July compared with June, which saw 4 percent growth from May.

The steepest decline was reported in Georgia, where output fell 68 percent in July compared with December.

Economists say figures fail to take account of new private companies that do not report their output to avoid tax.

The committee issued the following data for industrial decline from December through July: Russia, 28 percent; Ukraine, 28 percent; Uzbekistan, 34 percent; Tajikistan, 34 percent; Kazakhstan, 37 percent; Belarus, 37 percent; Armenia, 45 percent; Moldova, 45 percent; Kyrgyzstan, 52 percent; Turkmenistan, 52 percent; Azerbaijan, 57 percent.