Anti-crisis Plan: Govt' to Subsidize Loans of Small Hotels

Today, the Government of Georgia presented an anti-crisis plan in order to reduce the coronavirus impact on the local economy. 

When presenting the anti-crisis plan, Prime Minister Giorgi Gakharia announced that the government made a decision to offer 4-month holidays on property and income taxes for hotels, restaurants, travel agencies, transport and tour companies, adding that the above will apply to about 18,000 companies and 50,000 employees.

In addition, Economy Minister Natia Turnava said that as part of the anti-crisis plan, small hotels with four to 50 rooms will receive assistance via a bank loan interest subsidy.

"The government will assist small hotels and will pay about 3 million GEL to subsidize their loans and ease the burden caused by the coronavirus crisis," she noted.

"The money will be allocated from the state program ‘Produce in Georgia’ and will benefit more than 18,000 objects," she added.

By Ana Dumbadze