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:
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“Georgia, Georgia, no peace I find, just an old sweet song keeps Georgia on my mind.”
—Stuart Gorrell (d. 1963)