Social stability will save Georgia's economics from global financial crisis consequences, says President

Social stability will save Georgia's economics from global financial crisis consequences, says President

Georgia, Tbilisi, Dec. 15 / Trend , N.Kirtskhalia/ Georgian President Mikheil Saakashvili called on the entire country to unite and to overcome the impact of the global financial crisis. He made the statement at a meeting with the workers of the Rustavi metallurgic plant, which has faced output sale difficulties due to global financial crisis.

"We withstood a war with Russia, and no one especially felt the consequences of aggression against the Georgian economics. But the current global crisis, which has had no analogue since 30s, already affects us," President said.

The President promised that Georgia, which has already survived two crises with the attendant destruction and hunger, would not face such complications any more.

"We have entered into an energy supply agreement with Azerbaijan for five years and today we can definitely say that our homes will have light and heating," Saakashvili said, stressing that gasification of Georgia would continue.

In his view, the task of authorities is to save existing enterprises and the skilled labour force which appeared in recent years.

Georgian President believes that free trade with the United States and European countries is the way out of this situation.

"Together we can get out of the crisis. We have plans to exit the situation. The Government has been updated for this purpose, as some ministers simply have tired of 'serious challenges'," said Saakashvili.

The President stressed that stability of society will help saving the Georgian economics and avoid the economic crisis.

"We understand that we need unity and cohesion in order to ensure economic development in such difficult circumstances, in other words, we need power and the people must be together," Saakashvili said.

The second challenge to the authorities of Georgia is to preserve the monetary system of the country, as there is devaluation of currency in many European countries, such as Latvia and Poland.

Saakashvili stressed that Georgian authorities would not allow this in the country.

"We will receive $400-500mln and will use the funds to develop the banking sector. The first six months of 2009 will be the most severe for the country," President said.

Have any feedback? Contact our journalist at capital@trend.az

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