The Messenger, Georgia
Jan 16 2009

Georgian economy will grow in 2009

By Messenger Staff
Friday, January 16

World Bank experts predict that Georgia will have the lowest level of
economic growth in the South Caucasus countries in 2009, at 4%, though
it might grow 6% in 2010. Our neighbours Armenia and Azerbaijan are
expected to perform better, Armenia’s economy growing by 6.5% and
Azerbaijan’s by 10.5%. It might make the reader more cheerful (!)to
know that Russia’s economy is predicted to grow by only 3%.

These prognoses were made by World Bank experts based on the situation
in the third quarter of 2008. Many things are changing rapidly however
and some analysts predict that growth will deviate from these
figures. Economic analyst Emzar Jgerenaia thinks that even if growth
is 5%, this figure is so low it indicates Georgia’s economy is in
recession.