National Bank reported about economic success in Georgia
On the eve, the head of the Georgian National Bank Giorgi Kadagidze said that the Georgian economic indicators have returned to pre-crisis period, and in most areas has even exceeded them. According to "Business-Georgia", Kadagidze announced such data at the meeting of Budget and Finance Committee of Parliament, which was held recently. The head of the National Bank was represented report for 2010, to members of the Committee.
"One critical factor is that if in 2005-2007 the main driving force of growth were foreign direct investment, in 2010 the main driving force of economic growth was also export earnings from the service sector. For the first time in recent years, tourism industry gained significant profit", said Kadagidze.
However, he added that inflation appeared the main challenge for Sakartvelo. In the late 2011, it has grown significantly, and was caused by events developing at world markets, as well as a bad harvest.
"Earlier we have told that it was caused by external factors and current rate returned to the previous level in late 2011. That criticism, due to the fact that, supposedly, we have released a large amount of money, was incorrect, that the time showed", concluded the head of the Georgian National Bank.