Georgia's Expansion Halts

Author(s): Molly Corso
Editor(s): Lili Di Puppo, Iris Kempe, Matthias Neumann, Robert Orttung, Jeronim Perovic
Series: Caucasus Analytical Digest (CAD)
Issue: 6
Pages: 20-21
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: 2009

While Georgia has been affected by the global crisis, early estimates gave the government reason to hope the country would be able to escape the worst of the financial downturn due to large foreign aid inflows and international support for the banking sector. However, local economists and global observers like the International Monetary Fund (IMF) are now predicting zero growth in 2009 and a more protracted recovery period than originally expected.

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