Georgia, Tbilisi, Jan. 18 / Trend, N. Kirtzkhalia /
Economic activity is declining in Georgia, Georgian National Bank president Giorgi Kadagidze told the media today.
He said that the Georgian National Bank has begun a liberalization policy and has cut refinancing rates.
"January is considered an economically inactive month, so the next two or three months will be crucial for proper analysis and conclusions", Kadagidze said. "Do we deal with fundamental macroeconomic trends or treat the situation as temporary and seasonal? We are actively observing and analyzing the current processes. We will be ready to give a detailed response to interested parties on these fluctuations in the future."
Yesterday, Georgian President Mikhail Saakashvili touched upon this disturbing trend in the country's economy. He said that he regularly receives information about it from the country's National Bank.