Kakha Khazaradze, Chairman of the Supervisory Board of ICR Group, says that the current crisis in the country, which began in December, will deepen in the first three months of 2025 and will initially affect sectors such as real estate and banks, which will be followed by inflation. He stated this in an interview with BM.GE.
According to him, now what businesses have been building for 30 years is being destroyed with one blow. It will take a dozen years to rebuild.
“From my point of view, within 3 months, the country will enter an economic crisis. It will first start with real estate, then move on to banks. Money will also become more expensive. This will lead to inflation of the lari. They will not be able to stop it physically. The only way out of these processes is to defuse the political crisis. Otherwise, I don't see a solution," said Kakha Khazaradze.
According to him, all businesses need a stable environment.
"The country needs transparent institutions, which we don't have today. The most important thing is that what we have been building for 30 years is being destroyed with one stroke. Then it will take decades to build it. It seems that the political crisis in the country will not be defused without elections," says the businessman.