Georgian Economy: Transition, Financial Crisis and crossroad of 1999

Abstract

The article describes in detail the economic reality of Georgia as a result of the implementation of the macroeconomic stabilization program - 1995 - 1998. In addition, the impact of the financial crisis that began in 1998 on the data for 1999 is described. The year 1999 is discussed in detail because this period is a crossroads, where Georgia's transition to a market economy was tested and the Georgian economy faced its first challenge in the wake of the 1998 crisis.