Crisis dealt a double blow to Georgia

2011-11-02 17:18:53

According to the International Monetary Fund (IMF), the global economic crisis has affected Georgia twice. According to "Business-Georgia", the representative of the IMF in Sakartvelo Edward Gardner stated this. He believes that economic crisis has dealt double impact on Georgia.

"I think the whole world enters quite a difficult period, and it will have a two-sided effect on Georgia. The first is that the target export countries won't increase as ambitiously, as it was current year. The second effect is that due to the economic instability in Europe, the access to private capital has become rather complicated", said Gardner.

He noted that the IMF has forecasted economic growth in Georgia. This trend, according to Gardner, will continue in 2012.