Economy Of Georgia (country)
Despite the severe damage the economy of Georgia suffered due to civil strife in the 1990s, Georgia, with the help of the IMF and World Bank, has made substantial economic gains since 2000, achieving robust GDP growth and curtailing inflation.
GDP growth, spurred by gains in the industrial and service sectors, remained in the 9–12% range in 2005–07. In 2006 and in 2008, the World Bank named Georgia the top reformer in the world.
International money transfers from Georgian migrant workers, working mostly in Russia, accounted for approximately 7% of the Georgian GDP in 2007. In 2010, money transfers surpassed the FDI as a source of hard currency influx into the economy.
Read more about Economy Of Georgia (country): History, Recent Macroeconomic Performance, Foreign Direct Investment in Georgia, International Money Transfers, Institutional Reforms, Unemployment
Famous quotes containing the words economy and/or georgia:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“Being a Georgia author is a rather specious dignity, on the same order as, for the pig, being a Talmadge ham.”
—Flannery O’Connor (1925–1964)