Economic growth in Georgia minimal

In 2008 Georgia’s GDP was GEL 19.1 billion, 2.1% higher than in 2007. This year the country’s economy faces very serious challenges. At the beginning of the year it was predicted that economic growth would be 2.5%, but in spring this prognosis was revised downwards to 1% and now the projection is an economic contraction of 1.5%. Presumably this figure will also be reviewed later this summer and it may be revised even further downwards.

The state is trying to elaborate a strategy to protect the country from further economic crisis, but this has not been published as yet.