From the editor

Jemal Inaishvili

The world awaiting recession. In spite of the fact that the US economic growth in the third quarter was quite high – 4.9% and the US government presented a certain plan regarding overcoming mortgage loan crisis results, still the expectations on financial crisis is high in the world.

These doubts were supported by publishing Merill Linch and other big companies’ financial reports in December, where great losses were shown. Rising prices on food and oil products is added to all the above mentioned. The world is seriously worried regarding China’s economic growth, experts believe that it will reach 11 % in 2008 and the same indicator will be in India. Consumption has increased in these countries to such extant that it has become the catalyst of world’s prices increase.
2008 is going to be quite a hard year for economy and business, a rat doesn’t promise anything positive to the world yet. Therefore we have paid attention to the world economic trends and Georgian economic conditions (pg). As you know, our journal has a ten year anniversary in December and we have organized interuniversity scientific conference. The best economic works in 2007 will be shown on the competition announced by us on December 27. Awarding will take place in the meeting room of the state museum. You can find presentations of main speakers in this edition. Presentation by Maia Mindorashvili on improving inflation calculation methods, article by honorary lecture of the Georgian University…. etc.
In spite of New Year preparations the main issue is still gas supply. Therefore we have decided to offer you an exclusive interview of the minister of energy, his frank discussion on Georgia’s success in this sphere for the year of 2007 and also plans for the coming 2008. (pg) also, our journalist’s review on the world market situation.
The year’s results have been summed up by the world’s famous experts, you can find 10 dangers to the world in this edition. Pension reforms becomes quite an interesting matter. You will find the world’s experience and troubles in this sphere in 2007 in the overview.
We traditionally offer you domestic market survey and information block. We hope we haven’t spoiled your New Year mood and have given you interesting information and analytics for planning the coming 2008.
Marry Christmas and a Happy New Year. God save you and the whole Georgia.
Jemal Inaishvili