Time for some Local News. The Ministry of Finance is working to abolish tax breaks for businesses. Lasha Khutsishvili, the Minister of Finance, said that his agency, with the involvement of USAID and IMF experts, was working to assess the effectiveness of each tax break, after which a decision would be made to cancel specific benefits. “I share the view that tax breaks should be as specific as possible and as targeted as possible. All persons must not enjoy tax breaks, if they do not need them”, - said Lasha Khutsishvili. Work on the assessment of tax breaks began during the previous Minister of Finance and has been continued for several months.
The Chairman of the Budget and Finance Committee of Georgian Parliament Irakli Kovzanadze calls on the Ministry of Finance to further reduce the budget deficit. "Reducing the budget deficit to 4% or less will be a real help to the National Bank of Georgia in reducing inflation and an important step towards macroeconomic stability”, - stated Kovzanadze. According to Irakli Kovzanadze, the steps taken by the government, in particular the Ministry of Finance, to reduce the budget deficit are appealing, however, he called on the government to direct all available reserves, or whatever appears in 2022, to further reduce the deficit.
Continuation of the Namakhvani Plant project, as well as Enka’s withdrawal with their own terms are considered equally - said the Ministry of Economy Natia Turnava. She declares that the main goal of the Georgian Government is to reach an agreement with the investor company - Enka Renewables. Two weeks ago, representatives of the Georgian side and ENKA held two meetings in Europe. In September, ENKA Renewables made the decision to terminate the contract with the Georgian government. It became known from the announcement published by the parent company of Enka Renewables on the Istanbul Stock Exchange.
In October, electricity consumption increased in Georgia. According to the electricity market operator, this figure exceeded 148 million kWh last month, which is 22.7% more than in the same period last year. As for the occupied Abkhazia region, electricity consumption increased by 15.1%. According to ESCO, local generation facilities generated 192 billion kWh of electricity, which is 40% more than in October last year.
