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Businesses Assess the Economic Situation

Published: August 8, 2013 | 9:11 am
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How do businesses assess the economic situation in the country? In spite of a negative growth rate of 0.8% in June, the government’s economic team is confident that it will be able to fulfil all its responsibilities. The founder of Coca-Cola Bottlers Georgia Temur Chkonia has told TV3 that the lower rates of growth compared to the previous years have been caused by the suspended construction works and the problems experienced by large supermarket chains. According to him, it would be wrong to assess the business environment in the country in numbers alone. Mr. Chkonia adds that the investment funds will serve to improve the economic growth rates, but whether or not they will actually produce real results, remains to be seen.
According to the founder of PSP Kakha Okriashvili, the economic growth rates do not reflect the whole reality of the economic situation in the country, as similar data was artificially stimulated last year. He is forecasting a growth of about 2% for 2013. The president of the Association of Small and Medium Scale Enterprises Kakha Kokhreidze links the low growth rates to the new political reality in the country. According to him, the change in the business environment led to a fall in investments and a temporary suspension of activity from the existing large business groups. Mr. Kokhreidze expects the economic growth rates to be more positive during the second half of the year, largely due to the positive results from the agriculture sector.

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