According to Irakli Kovzanadze, Chair of the Budget and Finance Committee of the Parliament, a recession is expected in the Georgian economy this year, so in 2020 the government and international financial institutions expect economic decline of -4% or 5% in Georgia.
Kovzanadze stated this at the sitting of the Bureau of the Parliament, where he also noted that considering the situation created due to the coronavirus, the government would submit an adopted version of the state budget to the parliament in May.
"As for the budget deficit, we have planned it at 2.5%, and I think that once we get funding from international financial institutions, this deficit will be increased.
As you know, jointly with our international financial partners, we think that the country will enter an economic recession and instead of planned economic growth at 4.5%, we will have negative -4%, -5% growth, but these figures will be in the state budget, which we expect the Ministry of Finance to bring in May”, Kovzanadze said.
See all the news
Kazakhstan’s Share of Bitcoin Mining Increases Sixfold Surging to Third Place Worldwide
Israel Bans Travel In Georgia From July 30
Novartis Prostate Cancer Drug Receives U.S. FDA Breakthrough Designation
Mymarket-ის აპლიკაცია ჩაშვებულია!
The Success of 5 Georgian Wines at Sommeliers Choice Awards 2021
მანინო უწერა - ახალი სასტუმრო რაჭაში
სილამაზის ინდუსტრიის გამოწვევები და #AVON-ის ფინანსური მაჩვენებლები
Investors in Georgia discover that Ease of Doing Business rankings can be deceptive
Baia Kvitsiani to Replace Mariam Kvrivishvili In The Parliament
Who Is Vazil Hudak?
PM Appoints Vazil Hudak As A Special Advisor on Attracting FDI
Exclusive Follow-Up/Interview with Selim Cakir, IMF Representative in Georgia
Czech Development Agency Delegation to Visit Georgia
GNCC demands reversal of a transaction on which they don’t have a jurisdiction - Law Professor
ფარმადეპო: „მედიკამენტები 1 ლარად“ - ქეთი კოზმანაშვილი ქალების ნარატივში
Georgia amends transfer pricing rules for APAs, reduces thresholds
We paid for 100% of shares of Caucasus Online in 2019 - NEQSOL Holding
“Only the courts have the right to determine the legality of the purchase of Caucasus Online", - NEQSOL Holding
Venice Commission: current version of the law does not demonstrate legitimacy and the proportionality test is not met either