Minister of Finance candidate pledges to put fiscal stability first
“On the one hand, the resources should be allocated fairly and on the other hand, we should maintain a low budget deficit”, said Matchavariani. Photo: Georgian Ministry of Finance.
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Fiscal stability will be put first, said candidate for Minister of Finance Ivane Matchavariani today in parliament.
He noted that fiscal policy is the only instrument of the government to ensure macroeconomic stability and accelerate economic growth.
On the one hand, the resources should be allocated fairly and on the other hand, we should maintain a low budget deficit”, said Matchavariani.
He also spoke about reforms aimed at improving the business environment and bringing tax and customs legislation closer to EU legislation.
Starting September 1, a new customs policy came into force, which significantly simplified customs procedures, stated Matchavariani. He also added that public hearings on the new tax code are underway.
A new customs code has been in place since September 1, which significantly simplified customs procedures. He said public hearings on the new tax code were also being prepared.
Harmonisation with EU legislation will allow entrepreneurs to carry out economic activities in EU countries without additional tax and customs procedural barriers, said Ivane Matchavariani.
The Ministry of Finance will soon present a bill that will provide additional funds for municipal projects planned for completion in 2020.
Georgian Finance Minister Ivane Matchavariani has called on leading Georgian TV companies with high tax debt to present plans to restructure their accumulated debt within about two weeks.
The International Bank for Reconstruction and Development (IBRD) is offering a $62 million loan to help increase the reliability of the electricity supply and prevent outages across the regions of the western Georgia.
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Georgia’s state budget income as well as revenue was fulfilled by 100% this year, announces the treasury service of Georgia’s Ministry of Finance.
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What are budget priorities?
Georgian Finance Minister Ivane Matchavariani has presented the draft State Budget 2019 to the Parliament of Georgia which includes the main data and directions of the country for 2019-2022.
MPs of the United National Movement (UNM) and the European Georgia opposition have temporarily suspended the boycott of parliamentary sessions and decided to meet with the candidates for the premiership and ministers later today, as part of the mandatory procedure of meeting with parliamentary factions before the final vote to elect a new PM and the cabinet of ministers.
The candidate for the premiership Giorgi Gakharia has been asked almost all the questions regarding the June 20 rally dispersal by the United National Movement MPs earlier today, as part of the mandatory procedure of a meeting with parliamentary factions before the final vote for the new cabinet and the PM takes place.
Georgian Finance Minister Ivane Matchavariani has met with a US business delegation today to introduce them to them to the country’s economic and investment environment.
One of the main priorities for the Ministry of Economy in 2020 is the privatisation process of state property and the goal is to increase the privatisation income in the state budget, said the Georgian Minister of Economy Natia Turnava today.
Pensions, disability payments and teachers’ salaries will be significantly increased in 2020, Georgian Prime Minister Giorgi Gakharia said at a special session of the government today. Gakharia said that the pension will increase by 20 GEL ($6.8/€6.2) for pensioners and for the first and second category of people with disabilities up to the age of 18.
Prime Minister Giorgi Gakharia has met with economic experts today to ask what type of problems they see in the Georgian economy and also discussed the state budget 2020 and exchange rate problems with them.
The annual meeting of the Asian Development Bank (ADB) will be held in Georgia in May 2021, announced Georgian Finance Minister Ivane Matchavariani earlier today.