Russia’s economic embargo on Georgia will cut the country’s GDP growth by 2,5% - 2,8% in 2007, Georgian Finance Minister Lexo Alexishvili told lawmakers on November 21.

“This slowdown in GDP growth will take place in a worst-case-scenario, including a possible gas price hike… But despite these foreign factors, our GDP growth will be at least 7,5% in 2007, which is up to GEL 16 billion [roughly USD 9,1 billion],” Alexishvili said.

“Our economy is sustainable enough to face foreign economic shocks,” he added.