Yerevan /Mediamax/. Georgian stock market is in a worse condition than that of Armenia, the NASDAQ OMX Regional Manager, believes.

Mediamax reports that he said this in an interview to Georgia Business Consulting.

“If you had asked me two years ago, I would have answered that the Georgian market had more potential than its neighbor. However, the crisis has shown that the Georgian stock market is in a worse condition than that of Armenia,” Johan Fredholm, the NASDAQ OMX Regional Manager, stated

“The situation in Armenia two years ago was worse than in Georgia, but that positive developments have taken place there recently”, Johan Fredholm stated.

According to him, Georgia's stock market is experiencing not only liquidity problems but also need for the development of the capital market and financial system.