IMF says Georgian economy depends on Russia


The IMF said that Georgia may achieve an economic growth of 6% this year if it restores commercial ties with Russia and attracts foreign investments, Trend reports.

The political situation in Georgia remains unstable. Foreign demand for Georgian products may drop.

Inflation in the country has been low this year, food prices have dropped. Inflation is expected to increase from 0.5% in November to 4% in late 2013.

Mark Griffits heading the IMF mission in Georgia says that the credit policy and reduction of official rates suites the inflation growth.

Adapted from Vestnik Kavkaza

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