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Wednesday, 20 June 2018


Abkhazia will survive the crisis without foreign aid

2008-12-26 14:16

Abkhazia will survive the economic crisis and will decide strategic issues even without external assistance, announced Kristina Ozgan, the Minister of Economy of the republic, in the air of local TV channel, RosBalt informs.


«Under new circumstances, connected with recognition of Abkhazia, we had and we still have the opportunity to count on long-term credit resources and financial support which we planned to use for serious economic projects which, in their turn, will influence the economic situation in the country. That is why, we will have, perhaps, to postpone some projects», the Minister noticed.

«We should not forget that in 2004 the republican budget counted a bit more than 400 million rubles, but the state still managed to solve all the tasks it faced that time», Ozgan highlighted.

According to the Minister, the income of the republic grew 4 times as much and counts about 1.5 billion rubles.

«That is why I think the state can decide strategic issues even without foreign aid », Ozgan stated.

At the same time she confessed that the global financial crisis will not pass by Abkhazia, as the republic uses foreign currency instead of national one.

«The first half of 2009 will be marked with increased inflation rate, and it will influence the basket of goods cost. We will face the task - to make salaries and social payments correlate with the basket of goods », the Minister concluded.


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