Europe Economy

Georgia Is Emerging from its 'Perfect Storm': President

Georgia suffered a double shock in the summer of 2008 as it entered a brief war with Russia just before the collapse of Lehman Brothers signaled the start of the global economic crisis. But the troubled country is now putting its tough times behind it, Georgian President Mikheil Saakashvili told CNBC Wednesday.

Georgia Emerging from 'Perfect Storm': President

"We withstood a double shock; we were in a perfect storm. World crisis and the war that happened just a few weeks before Lehman Brothers. So actually it couldn't get any worse," Saakashvili said.

"Any time for any war is a disaster," he added.

- Watch the full interview with Mikheil Saakashvili above.

Saakashvili pointed out that the International Monetary Fund expects the former-Soviet nation to post around 3 percent gross domestic product growth this year. But he says the forecast is "conservative."

"In these circumstances, having a country that will grow this year is quite remarkable," he said.

With memories of Russian tanks within Georgian borders fresh in investors' minds, Saakashvili is keen to paint Georgia as a business-friendly country with low corruption and low tax.

"There are solid credentials that Georgia has that are very unique for a post-Soviet space," he said.

When asked about political relations with Russia, Saakashvili admitted that ties weren't as cordial as those with the other bordering counties.

Saakashvili told CNBC he believes in "small government" and is "very pro-market." He added that government attempts to regulate the financial markets are "inherently stupid."