On December 22, 2009 was held the session of Georgian Government. The agenda included 42 items.
Before the beginning of the session the Prime Minister wished success to new members of the cabinet of ministers and noted that they will manage not
so simple departments. "We have done much but there are much more to be done. Wish success to both you", - the PM noted.
Nika Gilauri touched the figures published by the Department for Statistics. "Calculation of the third quarter is completed. According to their calculation, the third quarter was about minus 1.3%. However, in consideration of the tendency which took place at the beginning of the year it is not such a bad result. The first quarter was closed at minus 5.9%, the second quarter - at minus 10% and the result of third quarter is minus 1.3%. The total data of economic growth of three quarters is minus 5.5%. We are expecting that the fourth quarter will be positive and the annual result will be minus 4%, if the result of the fourth quarter will be +2-3%. The basis for such estimates may be the indices of October and November. I want to say that the closest in correlation with the gross domestic product are VAT turnovers which are collected and statistically calculated at the Tax Department. According to those turnovers, if the first three quarters of the past year were negative, October month according to VAT turnover had +2.2%. We may say with confidence that the next year from the aspect of activity will be positive. I want also to underline the data of November month and early December. I mean the bank sector and total credit portfolio. November and December are first months when the credit portfolios of bank sector grew up. Until then we observed the monthly decrease in the credit portfolio within the first seven months. In September the decrease stopped and October, November and December were the first months where we observed serious growth.
That is the private sector become more and more active and credits become more and more available for it. These indices promote the economic activity both at the end of December and at the beginning of the next year", - the Prime Minister stated.
The Prime Minister Press Service