Recovery only by 2010
By Messenger Staff
Thursday, August 27Official economic predictions are becoming less optimistic. According to the latest one, the economic downturn in 2009 will reach 4%, not 1.5%. Some independent analysts, however, think the drop will be even more dramatic. The higher figure may be the result of a realistic evaluation of the current situation; or, as some speculate, the Georgian government is using it in an attempt to receive extra credits from the International Monetary Fund. The application of the Georgian government to the IMF was submitted on August 6 and included the 4% figure. As a result the IMF allotted additional monies to Georgia.
Now the government thinks that economic growth in Georgia will start in 2010. However, some see a difficult autumn and winter ahead, as it is possible that Georgia will face additional economic difficulties.