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IMF predicts inflation in Georgia

By Messenger Staff
Tuesday, May 3
The International Monetary Fund predicts an increase of inflation in Georgia of up to 15%. It also predicts that the rate of economic growth in the country will decrease. The Georgian government meanwhile predicts inflation decrease in the second half of 2011. However the IMF prognoses challenge Georgian opinion. IMF official David Owen commented on the situation in Georgia and claimed there was a crisis in the country because of poor pensions and social protection systems. He also mentioned the challenges posed by high prices on products and fuel. Georgia indeed needs sustainable growth of economy, creation of jobs and other steps where the poorest among society can gain some relief from their hardships.