About Georgian economy

The Monitory Policy Committee of the National Bank of Georgia stated recently that there are some signs of economic recovery in the country, however the speed of this recovery is unclear as it is in other countries.

Despite the fact that in 2009 Georgia’s GDP fell 4% the National Bank still predicts 2% economic growth in 2010. Under this prognosis inflation will be 6% this year. At the end of 2009 annual inflation was 3%.

Given these figures the Government has declared the economic crisis in Georgia over, however some economic analysts do not agree. Emzar Jgerenaia thinks that the second and third quarters of the year will be very painful for the country. How can the crisis be considered over when the draft budget projects half a billion GEL less income? asks Jgerenaia.