The government will allocate GEL 2 billion to support the economy and business. It is not clear yet, how the government assists the business to reduce the negative impact of coronavirus.
However, the government announced a few weeks ago and started co-financing program for hotels with 4 to 50 rooms. It has also been announced that the income and property taxes will be deferred to the tourism sector, though the Georgian Business Association says the victims are not just small and medium-sized businesses, so the approach should be equal for everyone.
“Talks, that small business is affected and large business is not, are wrong. They have got not less loss and their damage will be much more significant to the country's economy. If big companies “explode”, all of this will have a bad impact on the entire financial sector, and you can imagine what their involvement would be in this crisis. The difference between small and big businesses is wrong, everyone should be equally supported. Big business employs 70% of our citizens and abandoning them saying that "you survive" is wrong. This can do more harm,”said Levan Vepkhvadze, Executive Director of the Georgian Business Association.
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