 In his fifth state of the nation address delivered February 12, Georgian President Mikheil Saakashvili focused largely on economic challenges, dedicating 55 minutes to the issue out of the hour-long speech.
He called on his opponents to think together on ways of overcoming the global financial crisis and threats of looming unemployment rather than waging political war. Those countries which failed to maintain political stability, Saakashvili said, are facing catastrophic economic hardships, citing the example of Ukraine, a country that is facing a sharp economic crisis due to “permanent clashes and confrontations between various groups.”
According to Saakashvili, Georgia is confronting its economic hurdles, but reiterated that this still “is not the crisis.”
Saakashvili emphasized that while the government’s aim in previous years was to promote Georgia as reforming country; now, its prime task will be to get into the top ten list of countries least affected by the global financial crisis.
The president underlined his three-point economic plan that aims to strengthen freedom of business and intends to cut administrative costs of state agencies by 10% as part of the new policy of “tightening belts.” “It means to expand economically,”
He also proposed a new scheme of the state co-financed health insurance package, which, he said, would be available to a large portion of citizens.
Saakashvili pledged that the state had enough resources to preserve the stabile operation of leading industries. The government, according to him, is to become the major investor.
He also said the banking industry in Georgia is stable, as opposed to neighboring Ukraine, Hungary, and the Baltic states that have experienced drastic contractions in their banks. He underscored the importance of the stable lari, saying “the rate of inflation is two to three times less compared to the rate in neighboring countries.”
Saakashvili noted the real estate sector in Georgia is in a dire circumstance, facing problems similar to that of the global market.
“The construction sector is the backbone of economy, it will employ several companies were many people are working. The developed infrastructure helps develop relations,” he explained and assured there would be new investments in the infrastructure development field.
“Be sure we will overcome all obstacles and survive. There is no other way for us,” he concluded.
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