EBRD experts evaluate economic development of South Caucasus

EBRD experts believe that Georgia is conducting the most successful economic policy in the Caucasus, a report of the European Bank for Reconstruction and Development reads, Business-Georgia reports.

The EBRD also forecasts the highest economic growth in 2013 in Georgia. Thus, according to the forecast, Georgia will show 5.5% economic growth, Armenia - 4% and Azerbaijan - 3-3.5% until 2013.

The document notes that Armenia's economy is developing at the expense of public funding and an intense flow of private investment from abroad.


As for Azerbaijan, experts see a certain danger due to the decline in the oil industry. EBRD experts believe that the main problem of Azerbaijan's economy is its dependence on the oil industry.