Gov't, Analytical and Research Organizations to Work to Overcome Economic Crisis

The economic team of the Government of Georgia is to work on a plan to overcome the country's economic crisis together with representatives of analytical and research organizations. Prime Minister Giorgi Gakharia made the aforementioned decision during a video conference with representatives of said organizations on Wednesday.

A special platform will be created for this purpose, within the framework of which the exchange of views and the development of recommendations will continue intensively.

All of the measures implemented by the Government of Georgia in order to minimize the economic consequences of the ongoing epidemiological crisis were emphasized during the video conference, among them subsidizing utility bills for citizens, as well as deferring property and income tax payments for business entities in vulnerable sectors, such as tourism.

The discussion touched on exchange rate insurance by the state in order to avoid an increase of food product prices, as well as all the planned measures that the Government of Georgia will gradually implement in order to support the economy during the crisis.

The representatives of the analytical and research organizations assessed the measures implemented by the government as positive and effective, noting that their vision in terms of the strategy to combat economic challenges is largely similar.

The measures and strategy that Georgia should be guided by while implementing post-crisis economic policy in order for the country to quickly regain competitiveness in the global (and altered) economic environment was also discussed during the video conference.

Source: Georgian Government's Press Service