This year Georgia has spent its fiscal buffers (reserves) which increased the 2020 budget deficit to 9.1%, while government debt to GDP ratio increased to 59.9%. Such a statement made today the Minister of Finance Ivane Matchavariani, while presenting the 2020 annual activity report of the Ministry.

“Georgia was the first country whose anti-crisis plan was confirmed by the International Monetary Fund (IMF) back in April, the reason for which was good macroeconomic parameters and high trust in the Government from the IMF.

International partners allocated USD 1.9 billion for Georgia to help fight the COVID-19. Georgia is in first place with pandemic support per capita by the support of donor organizations.

Despite the support of the international financial institutions, Georgia allocated GEL 420 million for the healthcare system, over GEL 1.2 billion to support citizens amid the pandemic, over 1.6 billion for business support.

In 2020 the tax liabilities of more than 50 000 taxpayers have been postponed which was more than GEL 400 million and tax benefits have also been implemented”, - said Matchavariani.