Irakli Kovzanadze: Investors Not Worried about Article 94 in Constitution

The Parliament’s Finance and Budget Committee hosted a discussion of the new constitution draft, chaired by Irakli Kovzanadze, the Chairman of Budget and Finance Committee of Parliament of Georgia.

The Finance and Budget Committee provided several arguments and comments on the draft of amendments to the Constitution, including the issue concerning the National Bank audit by the State, supported by the Chairman of the Parliament Irakli Kobakhidze. Parliament’s Finance and Budget Committee fully supported the proposed draft at the first hearing.

Irakli Kovzanadze has said that investors are satisfied and calm about the existence of Article 94, which enables decision-making only by referendum, and that it should not be removed from the Constitution.

“The 94th article must stay in the Constitution,” Kovzanadze said at a committee meeting, referring to the draft law on amendments to the Constitution, adding that the abovementioned article in the Constitution offers a stable and calm environment for investors which is good for our economic development.

“I believe that the 94th article should stay untouched in the constitutional changing project, as it creates a soft environment for investors and I think that it is very important for the future,” he declared.