TODAY.AZ / World news

IMF: Georgia overcame first wave of crisis

17 February 2010 [10:33] - TODAY.AZ
Georgia overcame the first wave of economic crisis, believe representatives of the IMF mission.
Several days ago they stopped the inspection of the economy of the country.

It turned out the banking sector turned profitable again, but Georgia still cannot do without foreign investments.

If the government manages to provide at least USD 800 mln of foreign investments, the economy growth will amount 2 percent of the GDP.

Last year this index decreased by 5 percent.

The head of the mission also confirmed the increase of 3-year program to USD 1 200 mln.

The International Monetary Fund recommends Georgia to cut budgeted deficit to avoid risks in future when the country will stop receiving the promised aid from international donors, said Edward Gardner, head of the Fund's mission in Georgia.

/Georgia Times/

Print version

Views: 1260

Connect with us. Get latest news and updates.

Recommend news to friend

  • Your name:
  • Your e-mail:
  • Friend's name:
  • Friend's e-mail: