Baindurashvili can see the end of the crisis

The Georgian Government claims that Georgia’s economic indicators show that the situation in the country is stabilising. Kakha Baindurashvili, the Finance Minister, thinks that the revival of Georgia’s economy can be seen in export increases and sales of second hand cars and real estate.

Baindurashvili states that in the first and the second quarters of 2009 the economic tendency was negative and third quarter data is not available yet, but the Government hopes that the fourth quarter figures will reflect this stabilisation. He admits however that the annual figures will be negative because the fourth quarter alone will not be enough to counterbalance the three previous ones. The Georgian economy will have contracted around 4% by the end of the year, but in 2010 economic growth of 2% is envisaged.

Economic analyst Giorgi Ghaghanidze, although noticing some signs of revival, is not willing to assert that the country has overcome the recession. If this is the case it will be possible to say so only at the end of the year, he thinks. President of the National Bank of Georgia Giorgi Kadagidze thinks that the Georgian population will see real improvements only in 3-4 years time.