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Thursday, 27 October 2016


Gilauri: protest actions will lead to decrease of GDP

2009-06-01 17:45

The government of Georgia states the so-called "street practice" [opposition protest actions] will lead to GDP contract by 1.5 per cent.


According to PM Nika Gilauri, in 2008 this index amounted 2.1 per cent, and owing to the reforms the global financial crisis didn't influence Georgia much in 2008.

1 per cent of GDP growth was expected in the first quarter of 2009, in the second this indication was expected to decease slightly due to the influence of the global crisis and internal natural reasons, but owing to fiscal stimulation and reforms, conducted in the previous years, the government hoped for increase of investment flows, in result of the increase of GDP in the third and the fourth quarters the year 2009 must ended with small, but positive indication, the PM explained.

"The first quarter was normal but then everything was spoiled in April and May due to the street protests ... Due to the political crisis in the country we have basically lost the first half of the year", he said.

He said the situation decreased trust of both foreign investors and local businessmen, import and export, turnover of enterprises decreased; the hopes for luring investments in the second quarter failed, Gilauri said and expressed hope the government would ensure the growth of budget via donor aid and increase of non-tax incomes.

The PM highlighted that the government will overcome all the political hardships in case of the political stability in the country.


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