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Saakashvili Expects Double-Digit Growth in 2012
Civil Georgia, Tbilisi / 8 Jun.'11 / 18:52

Georgia should have double-digit economic growth next year, President Saakashvili said on June 8.

“Our neighbors around us are developing so fast that we have no right to develop slowly. We will be kicked down if we fall behind; it’s inadmissible,” he said.

“We should have double-digit growth, which will be based on large-scale infrastructure projects, involving hydro power plants… as well as tourism,” Saakashvili said. “We expect three million tourists this year; next year – four million and five million in 2013.”

Saakashvili made remarks during almost an hour-long live televised meeting with regional governors discussing infrastructure projects.

“2013 is a historic year for Georgia, not because my presidential term expires, but because in 2013 such things will be done in Georgia, which have never been done before – there will be the best roads everywhere… and there will be water supply in all the major places… and in 2013 unemployment rate should go down from 16% to 10%,” Saakashvili said.

PM Nika Gilauri said late last month that Georgia’s economy grew 6% year-to-year in the first quarter of 2011.

Georgia's real GDP grew 6% y/y in the fourth quarter of last year, making 2010 GDP growth 6.4%.

Georgia’s economy had double-digit growth in 2007, when real GDP growth exceeded 12% due mainly to private capital inflows, including USD 2 billion foreign direct investment.

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