1996
DOI: 10.2139/ssrn.1475263
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Georgia - A Brief Survey of Macroeconomic Problems and Policies

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“…The first three years of independence saw no reversal of this trend. Georgia's GDP in 1992 was only 44.1% of that in 1990, in 1993 only 29.4% of that in 1990, and in 1994 only 20.6% of that in 1990 (Wiellisz 1996). The crisis almost destroyed the transport and construction sectors, whose produced value fell to a level of a few per cent of the base-year value, and instigated a deep recession in the energy industry, where production in 1994 was barely half that of 1993 (Dąbrowski 2004).…”
Section: The Economic Development Of Modern Georgiamentioning
confidence: 96%
“…The first three years of independence saw no reversal of this trend. Georgia's GDP in 1992 was only 44.1% of that in 1990, in 1993 only 29.4% of that in 1990, and in 1994 only 20.6% of that in 1990 (Wiellisz 1996). The crisis almost destroyed the transport and construction sectors, whose produced value fell to a level of a few per cent of the base-year value, and instigated a deep recession in the energy industry, where production in 1994 was barely half that of 1993 (Dąbrowski 2004).…”
Section: The Economic Development Of Modern Georgiamentioning
confidence: 96%