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ECONOMIC ACTIVITIES IN S. CAUCASUS COUNTRIES
The Messenger
Nov 1 2012
Georgia
After the war with Russia in 2008 and the global economic crisis, the
Georgian economy began its recovery in 2009. According to official
data, Georgia's economy grew 6.3% in 2010. In 2011, economic growth
reached 7%.
In Armenia, the global crisis of 2008-2009 also influenced economic
growth in the country. In 2010, after recovering from the economic
collapse, Armenia's economy growth reached to 2.2%. In 2011 it
reached 4.7%.
Azerbaijan's economy has enjoyed very stable growth for the last
several years. Before the economic crisis, Azeri economic growth
reached 34.5% in 2006 and 25% in 2007. Even in 2009, the country
saw growth of 9.3%, though in 2010, growth declined to 5%. Most
surprisingly, in 2011, economic growth in Azerbaijan saw 0% growth.
However, this does not mean much for Azerbaijan which has huge reserves
of oil and gas.
From: Baghdasarian
The Messenger
Nov 1 2012
Georgia
After the war with Russia in 2008 and the global economic crisis, the
Georgian economy began its recovery in 2009. According to official
data, Georgia's economy grew 6.3% in 2010. In 2011, economic growth
reached 7%.
In Armenia, the global crisis of 2008-2009 also influenced economic
growth in the country. In 2010, after recovering from the economic
collapse, Armenia's economy growth reached to 2.2%. In 2011 it
reached 4.7%.
Azerbaijan's economy has enjoyed very stable growth for the last
several years. Before the economic crisis, Azeri economic growth
reached 34.5% in 2006 and 25% in 2007. Even in 2009, the country
saw growth of 9.3%, though in 2010, growth declined to 5%. Most
surprisingly, in 2011, economic growth in Azerbaijan saw 0% growth.
However, this does not mean much for Azerbaijan which has huge reserves
of oil and gas.
From: Baghdasarian