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Georgia still in crisis

By Messenger Staff
Thursday, February 5
The President assures us that so far little Georgia has resisted the blows of the world economic crisis. We want to trust him but reality gives a different picture.

Many companies have stopped functioning and their employees are losing their jobs. The banks have dismissed hundreds of people and you can see many abandoned construction sites around Tbilisi. Local economic analysts point to more and more signs that crisis is here.

Californian University Professor Laura Tyson thinks that crisis in Georgia will be manifest in three ways: export earnings will go down, credit lines will decrease and confidence in banks and financial organizations will be diminished.

Despite the fact that the US pays special attention for Georgia it is very important that it should take care itself by increasing trade with neighbouring countries. A very important issue is how officially and transparently the amounts allotted to Georgia will be spent.