23.Jul .2021 10:00

Today Economic Porgress Depends On The COVID-10 Managment Measures - Kovzanadze

Today Economic Porgress Depends On The COVID-10 Managment Measures - Kovzanadze
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"The prospects for economic growth, and thus the outcomes, are favorable. However, I will state unequivocally that the economy is still enslaved by a pandemic, and that the country's economic success and population welfare are now dependent on COVID-19 management measures. Each of us, as citizens, must contribute in this direction. It's also vital to spend every GEL allotted in this area wisely, which we'll certainly do” - the Chairman of the Budget and Finance Committee, Irakli Kovzanadze stated at the Extraordinary Plenary Session.

According to him, the faster-than-planned GDP growth allowed the government and the Ministry of Finance to revise the 2021 budget.

Kovzanadze expressed hope that the dynamic growth will continue, taking into account the economic growth indicators of recent months.

The Chairman Committee focused on several parameters of the budget.

"The planned rate of payments increases by 1.1 billion GEL (or 6.1%) and reaches 19.5 billion GEL. According to the bill, the bulk of the increase in state budget allocations for 2021, about GEL 600 million, will be spent on COVID-19 management, health and social protection measures. In total, 6 billion 93 million GEL is provided in the budget for health and social directions. It is such an important resource that the government spends only in these areas", - Kovzanadze stated.