Georgia's economy grew 1 percent in Q1

Business Materials 4 June 2009 13:33 (UTC +04:00)

Georgia, Tbilisi, June 4 / Trend , N. Kirtskhalia/

Georgia's GDP grew 1 percent in the first quarter of 2009, a rise of 9.1 percent from the same period of 2008, economy minister Lasha Zhvaniya told reporters.

"Investments dropped significantly in April and May. We often meet investors and offer to invest. But they still refrain to do so," the minister said.  

Prime Minister Nika Gilauri said the government expects economy to shrink 1.5 percent in 2009.

"Tourism suffers much from global crisis. Only 40 percent of hotel rooms have been booked. It was not even case during war with Russia in August 2008," Zhvaniya said.

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