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International Monetary Fund
The econometric results show that it is feasible to estimate robust price and inflation equations for Georgia. The long-term price equation expresses prices as a function of money, the exchange rate, and real income and may be interpreted as portraying equilibrium in the goods market. The paper also represents statistical data of transportation indicators, population and employment, personal income tax, monetary survey, average monthly wages, developments in commercial banking, interest rates, prudential indicators of commercial banks, balance of payments, and so on.
International Monetary Fund. Research Dept.


This paper highlights that world economic growth is estimated to have declined from 3¼ percent in 1989 to 2 percent in 1990, reflecting a slowdown in the industrial countries and a fall in economic activity in developing countries of Eastern Europe, the Middle East, and the Western Hemisphere. The growth of the world economy is expected to decline further in 1991 (to 1¼ percent) owing to the weakness of some industrial economies, and to further declines in output in the Middle East and in Eastern Europe.