05 June 2020,   00:18
The Government of Georgia to allocate GEL 2 billion to support the country’s economy

The Government of Georgia has decided to allocate GEL 2 billion to support the country’s economy, hit by COVID-19. The Prime Minister discussed main directions of the Economic Support Plan at today"s session of the Inter-Agency Coordination Council.

According to Giorgi Gakharia, today it is difficult to predict what kind of influence this global coronavirus crisis will have on the Georgian economy, but it is already obvious that the economic growth rate will not be the same as was projected at the beginning of this year.

“When we discuss this issue with our partner international financial organizations we all agree that we are entering a period of recession. This is the impact of global trends on the our economy but we also understand that those strict measures that we take today in terms of fighting against COVID-19 will also have an impact on economic performance. And today we are not in a situation to talk about the same economic growth rates that we projected at the beginning of 2020”, - said the Head of the Government.

He also announced that in the crisis budget 351 million GEL has been mobilized.