02 December 2020,   08:35
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Work is in progress on Phase Four of the Post-Crisis Plan – Giorgi Gakharia

Work is in progress on Phase Four of the Post-Crisis Plan, which will be specifically aimed at the social assistance of citizens and business support. Such a statement made today the Prime Minister of Georgia.


“Government of Georgia declared from the very first day of the economic crisis that its guiding principle was a rational distribution of resources, predominantly for the sustainability of businesses, jobs and social security of citizens. We have already started work on Phase Four, which will be directly aimed at concrete social assistance of our citizens, along with business support.


Meetings will be held in the coming days with businesses and largest employers to unite efforts and find a solution, which will assist the economy in maintaining a potential of further growth and jobs to a greatest extent.


These are several already well proven mechanisms, which have worked well at previous stages in terms of citizen support, who lost their jobs and in terms of targeted social security for the most vulnerable households and in terms of tax concessions for the most affected businesses. We are now modernizing all of these initiatives to make sure that meetings can be held in the nearest future with sectoral businesses and largest employers to unite efforts and find the solution empowering our economy on the one hand and maintaining the potential of further growth thereby taking maximum care for the maintenance of jobs, on the other hand. Specialized group has been created and it engages the economic team of the Government of Georgia, as well as the national bank and our international partners. Outcome and output of this group will be known to everyone in the nearest future. It will be Phase Four of the support package designed by the Government of Georgia for the citizens and businesses.


Authorities need to do everything possible in the post-crisis economy to reach a double-digit indicator of economic growth in Georgia in the nearest future.


We held a balance between healthcare, human life and economic viability. We continue this path as the post-crisis economic recovery prospect is the most important to maintain in our economy. We have had close interaction and negotiations with the IMF in recent days and they praise our plan of structural reforms, which we intend to carry out from 2021 to make sure that the economy of Georgia recovers efficiently and continues its advancement effectively. Also, assessments make it clear that with structural reforms that we carry out and intend to continue from 2021 will make Georgia have the quickest economic growth, though it is not sufficient of course, especially in the post-crisis economy. We should do our best to reach a double-digit indicator of economic growth in the coming years in Georgia. It is an essential precondition for our European ambitions to be carried out in the quickest manner”, - concluded Giorgi Gakharia.

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