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Gakharia: our Economy has Some Structural Problems

Gakharia: Our Economy has Some Structural Problems

Minister of Economy explains main reasons of GEL depreciation afresh and does not agree with the critics that the government blames merely the external factors.

George Gakharia noted with TV-company Imedi, that the economy has some structural problems and focused attention on their solving activities.

“We understand very well the main reasons, which are causing depreciation of GEL. We know that economic is in grave condition with our major trading partners, and global dollar strengthening of USD takes place. Somebody does not like to hear it again, but it is a fact. The fact is also that such serious incidents are reflected on our small and open economies”, – Gakharia declared.

He noted that economic structural problems were not on the surface and visible when the global economy had been characterized with more positive events and more rapid growth was observed in the region.  But, today when global problems have appeared and trade deficit is dependent on high level of dollarization and import, these are those factors, which have a direct influence on Georgia’s economy.

“We clearly understand the importance of internal factors. I would like to note that each component of 4-point plan, announced by the Prime Minister, responds to the domestic challenges. Opponents’ statements are not right that the government blames external factors for GEL devaluation. We understand the meaning of internal factors, which main goal is rapid economic growth, further improvement of the business environment and establishment of additional jobs. We must overcome the problems with the private sector”, – Gakharia said.

According to him, improvement of business environment is a main tool, by which the government plans to attract foreign investments. He noted that activity in Georgia must be comfortable for investors. According to him, working on attraction of investors will become more focused.