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
Disclaimer: This article was contributed and translated into English by Baghdasarian Karlen. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2012/11/02/economic-activities-in-s-caucasus-countries/