Despite the severe damage the economy has suffered due to civil strife, Georgia, with the help of the IMF and World Bank, has made substantial economic gains in 1995-97, increasing GDP growth and slashing inflation. Georgia still suffers from energy shortages, although energy deliveries are steadily improving. Georgia is pinning its hopes for long-term recovery on the development of an international transportation corridor through the key Black Sea ports of P'ot'i and Bat'umi. The construction of a Caspian oil pipeline through Georgia scheduled to open in early 1999 should spur greater western investment in the economy. A growing trade deficit, continuing problems with corruption, and political uncertainties cloud the short-term economic picture.
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