"The country, as well as the government and the population, face serious challenges next year. It should be noted that this year Georgia has managed to mobilize significant assistance from international financial institutions, which is aimed at both balancing budget deficits and replenishing the Central Bank's reserves”, - Irakli Kovzanadze, Chairman of the Budget and Finance Committee said.
According to him, the needs of the affected fellow citizens have been funded by international financial aids, as well as some of the money went to the reserves of the National Bank. The National Bank provided more than 850 million USD to the market as interventions in 2020 to maintain the stability of the lari exchange rate.
"It is a serious statement that this year, the rating agencies have not reduced Georgia's rating amid pandemic. But the fact is that a difficult year is ahead of us due to the pandemic. From a macroeconomic point of view it will not be an easy year, the macroeconomic background is quite heavy. Today, measures to overcome socio-economic problems are coming to the forefront. The Prime Minister and the Ministerial candidates will have to work hard in all directions. Today, we will hear how ready the ministerial candidates are in this regard. I will have questions based on the committee profile. As you know, the 2021 budget is expected to be discussed and approved,” said Irakli Kovzanadze.
