GDP growth predicted to halve

The Russian aggression has created extremely negative affects for different segments of the Georgian economy.

The IMF prognosis of GDP growth in Georgia in 2008 has been lowered to 3.5%. 4% growth is now expected in 2009. Earlier the IMF had predicted that GDP growth here would reach 9% in 2008-2009.

The GDP growth figure in previous years has been rather encouraging and the prognoses of future development were high. In 2006 country’s economy grew by 9.4% and in 2007 12.4%.