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Wednesday, 26 October 2016


The IMF backs Saakashvili

2011-11-11 10:24

The IMF backs Saakashvili. 24325.jpeg

Less than a day later, Michail Saakashivili's words about economic growth in Georgia were disputed by the representative of the International Monetary Fund. The leader of Transcaucasian republic met with representatives of "United National Movement" and boasted an enviable seven-percent increase of the national GDP, which should take place this year. The next day, the head of the IMF in Georgia Edward Gardner straightened him, saying that economic growth in the country will not exceed six percent. At the same time he was very surprised that this increase does not affect the level of unemployment.

Communicating with his pocket party, Georgian president gave way to his wild fantasies. "Economic growth in Georgia this year amounted about seven percent at an annual inflation at three percent", declared Mikhail Saakashvili. These incredible figures, of course, haven't aroused questions of loyal hangers-on from "United National Movement". But they were very puzzled by the head of the IMF Georgia Edward Gardner, who was quick to share his amazement with reporters.

"The current rate of economic growth in Georgia is impressive, tactfully said the representative of a financial institution, but he decided not to put up with blatant nonsense, once again voiced by the head of Georgian state. By the end of this year it will be about six percent". It is also not bad. But next remark by the financier questioned this figure which a little matched with the calculations of Gruzstat. He could not hide his surprise at the unique local phenomenon: the economy is growing, but ultraboundary unemployment is not reduced. However, Edward Gardner tried to formulate a very sensitive issue for the Georgian authorities rather correctly.

"Despite the fact that after 2008 Georgia has got a fairly high economic growth, it is not reflected at the level of unemployment. The connection between them is weak. In Georgia, you have high level of people's education, but they do not have the appropriate skills required at today's labor market", the head of IMF mission said. In simple terms, why they have such substantial increase in GDP of the country, while they have such a high level of unemployment.

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