Georgia’s economic miracle was based on seizure of property from citizens for $4 bn

Baku, Fineko/ Georgian Prime Minister Boris (Bidzina) Ivanishvili almost simultaneously with President Mikheil Saakashvili has summed up the result of the 10-year presidency of the latter.

While Saakashvili stated at the UN that today Georgia is one of the world’s economic leaders, but acknowledged the mistakes made on inexperience and under internal and external pressure, his opponent and successor Ivanishvili pointed to the real motive of the “Georgian miracle”.

“We promised the public that justice will be restored. We were able to make fear in the society that police and prosecutors can detain people illegally to disappear. We regard to this promise with great responsibility and continue this process. The question of the return of the seized property, the total value of which reaches 6-7 billion lari (about 3.6 – 4.2 billion dollars) still remains unresolved. We are aware of about 9,700 facts of transfer of property “as a gift” to the state and we know how it happened. There were about 40,000 cases when citizens were taken away their property in many ways. We are facing with a dilemma – if the state undertakes this responsibility, it will cause damage to the budget, and we thus will deprive the society of development opportunities,” Ivanishvili claimed.

In this context, his government is waiting for proposals from specialists to address this issue. In 2013, economic growth in Georgia will be, according to new estimates, 2.5-3% against the initial forecast of 6%. According to Ivanishvili’s estimate, Georgia will need 15-20 years to reach the European economic level.

The presidential election in Georgia will be held on 27 October, and Saakashvili will hardly be able to participate in it.

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