Georgia overcomes acute period of economic crisis: president
Georgia, Tbilisi, Nov. 11 / Trend N.Kirtzkhalia /
Georgia has overcome the acute period of economic crisis, Georgian President Mikheil Saakashvili said at the governmental meeting in the Kakheti region.
"We can felt revival in many sectors, but primarily this is manifested in the return of investor confidence," he added.
According to Saakashvili, Eurobonds have gone down in price below the level that was recorded in their issuance and now this index hit 7.2 percent, which would further increase investor confidence.
"The increase in the number of registered cars also indicates the economic recovery, particularly in October. Real estate market also increased significantly," he said.
The apartment prices started increasing in Batumi and Tbilisi, the president said. "But prices have not reached the pre-crisis period, so who wants to buy an apartment, must hurry up," Saakashvili said.
According to him, the financial sector also recovered fully, the National Bank's reserve exceeds the volume of past years twice and the volume of deposits at banks increased than ever.
"Now the important thing is that the private sector is out of "lethargy" and began to receive investment. The crisis was overcome thanks to the government's good work and help of friends. However, now we should overcome the psychological fear. We have initiated an act of economic freedom to foster private sector development, but we also plan to present further initiatives," the president said.
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