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Georgian government develops plan to stimulate economy


BAKU, Azerbaijan, April 14

By Tamilla Mammadova – Trend:

Georgian government is developing a plan of economic stimulation, which will lay the foundation for successful development in 2021, said Minister of Economy and Sustainable Development of Georgia Natia Turnava, Trend reports citing Georgian media.

According to the minister’s, after the coronavirus pandemic ends, the world economy will change, and the geography of traditional industrial hubs will be disrupted. And in this new reality, Georgia with its reform approach, open economy, good business environment and high international ratings will be able to offer its own platform to international companies.

“There is no such challenge that cannot be turned into an opportunity. Firstly, many international companies will begin to look for alternative industrial or business platforms. For us, it is very comfortable, since in recent years, Georgia has been known as one of the countries where it is easy to do business. Secondly, we want to add mechanisms that will help newly established companies enter our market. These will be proven mechanisms that will receive the support of international organizations,” said Turnava.

She added that in the post-crisis world, competition on alternative platforms will intensify. Although, if the events in Georgia follow an optimistic scenario, from the end of May, business will gradually begin to recover.

According to the minister, the government sees the problem of liquidity of companies and is working to address it.

“One of the goals is to solve the problem of working capital of companies so that they can save the jobs of their employees,” said Turnava.

She noted that in the coming days it will become known exactly how the government is going to solve this problem.

“I just promise that it will be effective and efficient support,” said the minister.

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