Georgia is still growth

Georgian economy is concluded the first quarter of 2009 odnoprotsentnym growth, but opposition protests may affect the economic climate in the country, told Reuters, Minister for Economic Development Georgia, Lasha Zhvania.
"The first quarter we completed with odnoprotsentnym growth … In April and May - a very high rate of reduction in investment. Investors come, meet, talk, that they made investments, but they are abstaining," - said Jvania Wednesday.
On Monday, Prime Georgia Nika Gilauri told reporters that the government expects the economy to the reduction of 1.5 per cent, on the basis of 2009 instead of earlier declared the forecast of GDP growth by one percent.
Yet, the government hopes that the sharp reduction of foreign investment this year there will be no forecasts that economic growth will slow, mainly because of low economic activity against the backdrop of political crisis. Georgia in 2009, expects to receive about $ 1.3 billion as foreign direct investment.
"It is suffering from tourism, the level of congestion of hotels in the country does not exceed 40 percent. That was not even during the war with Russia in August last year," - said Zhvania.
He said that the task of government is to attract investment in the regions of the country, in agriculture, tourism and support for small and medium-sized businesses.

3 June 2009 | crisis, economy, growth, investment

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