Economy more affected by August war than world crisis
By Messenger Staff
Tuesday, October 27Some economic analysts think that the world economic crisis has not touched Georgia as much as other countries because Georgia is not substantially integrated into the world economy. Georgia is much more an importer than an exporter and its exports are not vitally important for other countries.
Georgia has also received very solid assistance from allied countries and international institutions due to the Russian aggression, and with this money the country has managed to stabilise inflation and preserve a certain economic stability. In 2009 GDP in Georgia is expected to be GEL 21.3 billion. It was initially planned to increase GDP by 2.5%, but now predicted to fall by 1.5%.
The crisis is not yet over and we have yet to see how things will develop from here but it should be said that the current economic developments, whether positive or negative, are mostly the product of the Russian aggression rather than the overall economic crisis.