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WMF: Georgia overcame the first wave of crisis

2010-02-16 18:34

Georgia overcame the first wave of economic crisis, believe representatives of the WMF mission. Several days ago they stopped the inspection of the economy of the country.


It turned out the banking sector turned profitable again, but Georgia still can't do without foreign investments.

If the government manages to provide at least USD 800 mln of foreign investments, the economy growth will amount 2 per cent of the GDP. Last year this index decreased by practically 5 per cent. The head of the mission also confirmed the increase of 3-year program to USD 1 200 mln - Mir channel.

The World Monetary Fund recommends Georgia to cut budgeted deficit to avoid risks in the future, when the country will stop reception of the promised aid from international donors, said Edward Gardner, the head of the Fund's mission in Georgia.


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