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New economic turmoil in store for Georgia

2009-04-17 10:26

Fitch Ratings, a renowned and influential rating agency predicts further deterioration of economic and financial conditions of the Eastern Europe and Baltic countries - ITAR TASS.

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In the analytic review, spread by yesterday's City [London], Moldavia, Ukraine and Georgia were admitted economically weakest countries; the best positions has the Czech Republic.

The agency specialist cannot rule out the further deterioration of the credit rating of Eastern Europe and Baltic countries - the region that suffered most of the present-day global financial and economic crisis.

The slump risks to deepen, 2009 will be marked with the biggest fall of GDP since the times of the socialist block collapse, stated Edward Parker from Fitch. In his view, the further growth of unemployment, new problems of banks, increase in state budget deficits, political pressure are the main problems that await these countries.

 

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