Georgia: Continued Reverberations of the Crisis

Author(s): Revaz Sakevarishvili
Editor(s): Iris Kempe, Matthias Neumann, Robert Orttung, Jeronim Perovic, Lili Di Puppo
Series: Caucasus Analytical Digest (CAD)
Issue: 18
Pages: 15-17
Publisher(s): Center for Security Studies (CSS), ETH Zurich; Jefferson Institute, Washington D.C.; Heinrich Böll Foundation, Tbilisi; Research Centre for East European Studies, University of Bremen
Publication Year: 2010

The economic situation in Georgia is continuing to deteriorate. GDP shrunk 3.9% in 2009. Most importantly, foreign investment has dropped off considerably. Foreign loans have replaced this investment, but such assistance is likely to run out by the end of the year. At the same time many domestic projects are on hold due to a lack of capital, foreign remittances are dropping as a result of the on-going international crisis and the Georgian currency is losing value

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