Independent expert on Georgian economy
By Messenger Staff
Friday, June 26Economic analyst Davit Narmania thinks that the financial crisis in Georgia is entering a new phase. He says that the first wave struck Georgia in March-April this year but the second is expected in autumn. As a consequence GDP will decrease further, as will tax revenues, investment and business activity. In parallel with this unemployment will increase.
Narmania nevertheless thinks it is unlikely that the country will have problems issuing salaries or pensions as the country is using international support money to meet its social liabilities. However this money was allotted originally to the country for the rehabilitation of the infrastructure damaged during the Russian aggression.