Disappointing Investment for 2010
By Messenger Staff
Thursday, August 26Georgian government has not yet officially released the amount of direct foreign investment into the Georgian economy in the first half of this year. However analysts assess that it is less than USD 200 million and former Minister of Finance, Davit Onoprishvili suggests that the figure through until the end of the year may only be double this amount. To put this into perspective, in 2007 foreign investment in Georgia was USD 2 billion and in 2008 USD 1.5 billion. Onoprishvili thinks that a poor economic policy and the war with Russia have caused a deterioration in the country's overall situation. “Investors have lost confidence because of the errors and wrong policy of the current administration,” thinks Onoprishvili. The analyst thinks that foreign investments are vital for Georgian economy, in particular now, when the multi-billion dollar aid given to Georgia by the world, financial organizations and different countries is exhausted. So if urgent measures are not taken, there will be no new investment in the country, no development of industry and agriculture and the country's economic situation will become very serious.