07.Jul .2021 13:00

It Is An Ambitious Plan, But Time Will Show - Giorgi Kacharava

It Is An Ambitious Plan, But Time Will Show - Giorgi Kacharava
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The Government of Georgia held a presentation of the economic part of a 10-year development plan, which was attended by business representatives as well as members of the government.

As Giorgi Kacharava, CEO of the EU-Georgia Business Council, has declared after the presentation, the plan is ambitious, but time will show how viable is the implementation of the plan.

Kacharava singled out expansion of the program "Enterprise Georgia". As for the challenge that Kacharava names state-owned enterprises.

"As for the focus on state-owned enterprise reform, I think it's a serious challenge for the country, as the debt of state-owned enterprises is at least $ 650 million and they have the liabilities of the same volume. This is a big challenge for the country. I think this area should be given a lot of attention, as just simple reform is not enough. There are questions both in terms of employment and profitability in these enterprises,” said Giorgi Kacharava.

Kacharava declares that subsidizing both mortgages and various programs, is not a bad solution in the current crisis, but perhaps more transparency is needed.

"Questions are often asked why this or that company is involved in the subsidy project and not others. In general, it is not bad and we welcome this direction, because this decision can be cardinal in terms of maintaining businesses," - said Kacharava.