Time in Tbilisi: May 3, 2024 03:18
The government of Georgia has presented an anti-crisis plan for Georgian businesses in order to ease the burden caused by the coronavirus crisis.
The government responded to the demand of the hotels, restaurants, tourist agencies and tour operators in Georgia and decided to postpone payment of property and income tax by four months.
This will benefit about 18,000 companies and 50,000 employees, said the Prime Minister of Georgia Giorgi Gakharia today while presenting the government’s anti-crisis plan.
The government will postpone the payment of property and income taxes for four months for hotels, restaurants, travel agencies, transport and tour companies in Georgia. This will leave more than 100 million GEL financial resources in this sector during four months (March, April, May, June)”, Gakharia said.
Moreover, as part of the ‘VAT returns’ reform 600 million GEL (about $214.67m/€192.27m) was planned to be returned to the private sector of Georgia, while in Gakharia’s words now this amount of money “will be doubled”.
This means that during one year 1.20 billion GEL financial resources will be returned to the [Georgian] economy”, said Gakharia.
Hotels, restaurants, tourist agencies and tour operators demanded from the government to postpone the budget taxes and bank loans. Photo: Nino Alavidze/Agenda.ge.
Gakharia also said that the Georgian banking sector will postpone payment of loans for three months for both individuals as well as micro, small and middle-sized businesses.
Meanwhile, Georgian Economy Minister Natia Turnava said that as part of the anti-crisis plan the government will further assist small hotels as “small hotels are even more vulnerable”, so the government will pay about 3 million GEL (about $1.07m/€0.96m) to subsidise the loans of small hotels.
Small hotels, from four to 50 rooms, will receive assistance – bank loan interest subsidy. The money will be allocated from the ‘Produce in Georgia’ state programme and will benefit more than 18,000 objects”, Turnava said.
Finance Minister Ivane Matchavariani said that “these efforts aim to bring the economy back to the organic benchmark of development”.
Georgian commercial banks, particularly TBC Bank, Bank of Georgia and Liberty Bank will accept postponed payment on loans for three months. The banks say the decision has been made to prevent people gathering in bank branches and thus to prevent the spread of the new coronavirus.
The government of Georgia, the National Bank of Georgia (NBG) and commercial banks are teaming up to mitigate the negative impact of the novel coronavirus (COVID-19) on the tourism sector of the country. PM Gakharia and the chief executive officers of commercial banks signed an agreement earlier today, which will come up with an action plan to support the tourism sector in the coming days.
Georgia’s tourism sector will lose about 30 million GEL per month (about $10.79m/€9.93m) following the coronavirus ban on travel from China and Iran, announces Georgian Economy Minister Natia Turnava.
The National Bank of Georgia (NBG) has sold $20 million at foreign exchange auction to control the national currency’s changing value against the US dollar.
The National Bank of Georgia recommends that consumers use contactless pay methods instead of paying by cash to prevent the spread of the new coronavirus. It also urges people to use distant banking services instead of going to the banks.
Georgia has confirmed five new cases of COVID-19 increasing the total number of infected individuals to 30. Meanwhile, the first individual who tested positive for COVID-19 back on February 26 after returning from Iran, has now tested negative, which means that s/he is getting well.
The impact of the coronavirus is rippling through the Georgian economy, but it might take a few months to fully see the fallout in data that track economic performance in Georgia.
One Georgian citizen who had tested positive for the new China-born coronavirus in February has been reportedly cured. Medical director of Tbilisi Infectious Disease Hospital, Marina Ezugbaia stated today that the first individual who had tested positive for COVID-19 back on February 26 after returning from Iran, has now tested negative.
Against the backdrop of the outbreak of the coronavirus and the global oil crisis, the Georgian national currency, the lari, has hit a record low against the US dollar after falling to 3.0118.
Small and medium-size business owners (SMEs) who have leased municipality-owned areas for their business activities have been made exempt from lease payments for three months to mitigate the negative impact of COVID-19 on the business, Mayor of Tbilisi, Kakha Kaladze stated today.
The Georgian government will cover utility fees, including sanitary service, gas and water bills for three months (March, April, May) for households which consume less than 200 kWh of electricity and 200 cubic meters of natural gas per month.
Georgian Prime Minister Giorgi Gakharia stated that the government will help people who have lost their jobs due to the state of emergency announced to prevent the spread of the coronavirus in the country.
In order to reduce the negative effects caused by the coronavirus pandemic and strengthen the Georgian economy, the National Bank of Georgia has developed a temporary supervisory plan, which is in full compliance with the recommendations of the International Monetary Fund, European Central Bank and other leading financial authorities, announces the NBG.
The economy of Georgia will recover from the impact of COVID-19 in 2021 with 4.5 per cent growth after experiencing a substantial slowdown in 2020 due to the pandemic and lower oil prices, reads the Asian Development outlook, a financial publication of the Asian Development Bank (ADB).
Prime Minister Giorgi Gakhara has called on Georgian citizens to call 112 if they notice a fever or shortness of breathing.
The government of Georgia will unveil an anti-crisis economic recovery plan on April 24, 2020, which will include measures for targeted social and business support.
Georgia has reported three new cases of the coronavirus earlier today, bringing the total number of cases to 411. 98 of the 411 people have recovered, while four others have died. As of today 307 individuals inside the country remain infected with the coronavirus. 5,160 people are under quarantine and 579 others in hospitals.
Georgian President Salome Zurabishvili has stated that the UN Secretary General Antonio Guterres praised the steps taken by the Georgian government in the fight against the coronavirus during a phone conversation yesterday.
The Investors Council will support the government of Georgia in developing a new investment strategy for the country and will engage in designing steps to attract new foreign investments to the country, announces the government of Georgia.
Georgia will spend 3.5 billion (about $1.10b/€1.02b) on its coronavirus anti-crisis plan, Georgian Prime Minister Giorgi Gakharia announced earlier today. "For now, the country will spend GEL 3.5 billion on managing the crisis, of which 1.035 billion GEL will be directed at social support of citizens, 2.11 billion GEL will be directed at the economy and entrepreneurs, while 350 million GEL will be spent on the health care of each citizen", Gakharia said.
The Georgian government has presented a plan to gradually open the economy step-by-step over the next three months. Georgian Prime Minister Giorgi Gakharia said that restrictions on economic activity will begin being lifted starting April 27 and if the coronavirus situation does not worsen in the country in three months Georgian the economy will be fully reopened.
Georgian Prime Minister Giorgi Gakharia announced earlier today how the government intends to help businesses and agriculture during the COVID-19 crisis.
The United States Agency for International Development (USAID) is helping the government of Georgia develop a post-coronavirus recovery plan that focuses on increased employment opportunities, announces the United States Embassy in Georgia.
Georgian Prime Minister Giorgi Gakharia announced today that 42,000 farmers will be exempt from paying irrigation taxes in 2020.
Beauty salons and aesthetic medicine centres will open in Georgia on May 18, said Georgian Prime Minister Giorgi Gakharia at a government meeting earlier today.
Georgia has started producing disinfectant in response to the increased demand for hygienic products amid the coronavirus outbreak.
Georgia has five new cases of COVID-19 and 14 recoveries including two in the Black Sea region of Adjara, turning the region into a coronavirus-free zone again. Head of the Adjara region government Tornike Rizhvadze announced earlier today that no new cases of the virus have been reported in the region since April 30.
Starting June 1 the National Bank of Georgia (NBG) will launch a new tool for liquidity management to support the financing of small and medium-sized businesses in Georgia, announces the NBG.
The Georgian government is working with experts from the University of Cambridge and the University of London as well as Deloitte analysts and local experts to create a post-crisis economic plan and decide what steps they should take in order to improve the Georgian economy after the coronavirus lockdown.
Georgian Prime Minister Giorgi Gakharia has presented the anti-crisis budget for 2020 at the Inter-Agency Coordination Council today in response to the before sending it to the Parliament of Georgia later today. "The reason and purpose of our meeting today is the anti-crisis budget for 2020. We all understand very well that the epidemic has pushed the country back economically. Today the budget will be presented to parliament and you are all here to discuss it and change our opinions", Gakharia said.
The government of Georgia will take a new loan worth 4.47 billion GEL to handle the crisis caused by the coronavirus pandemic, according to the anti-crisis budget for 2020 presented today.
Georgia has reported four new cases of the coronavirus earlier today, bringing the total number of cases to 822. 690 of the 822 patients have recovered, while 13 others have died. As of today 119 people remain infected with COVID-19 in Georgia. Two of the four new cases are imported, one is a medical personnel and the remaining one is connected with the Saburtalo cluster.
Experts from Deloitte have analysed Georgian fiscal, monetary and sectoral economic policies and given recommendations to the Georgian government at an online meeting with Georgian Prime Minister Giorgi Gakharia earlier today.
ADB Country Director for Georgia Shane Rosenthal has praised Georgia's response to the coronavirus pandemic, noting its low infection rate in the Caucasus and Central Asia.
Georgia has reported three new cases of the coronavirus earlier today, bringing the total number of cases to 911.768 of the 911 patients have recovered, while 14 others have died. As of today 136 people remain infected with COVID-19 in Georgia. Two of the three new cases are imported, while one does not know how he contracted the virus.
Georgia has reported three new cases of the coronavirus earlier today, bringing the total number of cases to 914. 771 of the 914 patients have recovered, while 14 others have died. As of today 132 people remain infected with COVID-19 in Georgia. Deputy Health Minister Tamar Gabunia says that all the three new cases are imported and there is a low rate of community transmission of the virus in the country.
The Georgian parliament has approved the anti-crisis budget, which reflects additional necessary expenditures of 3.4 billion GEL needed to combat the coronavirus and treat patients, the Georgian Ministry of Finance announces.
Transparency International Georgia has presented an analysis and recommendations of the draft anti-crisis budget for 2020 just a few days ahead of a vote in the parliament of Georgia, which recommends that the government of Georgia needs to come up with alternative scenarios for economic growth and budgeting.
International economists delivered a presentation on the global pandemic and its aftermath on the economy to the Georgian government today, saying the steps taken by the Georgian government to improve the business environment and increase investment attractiveness are 'right and important', announces the government of Georgia.
As the shock of the pandemic is expected to last until the end of the year the government of Georgia is taking actions to further support individuals affected by the crisis. "Despite all the positive tendencies, the shock of the pandemic will last until the end of the year. Therefore, we should reexamine every social group and allocate resources for citizens who are in special need. I also want to emphasise that as of today, 721,000 citizens have already received social assistance packages which had been created by the government", said Gakharia.
UN, USAID has launched a joint, large-scale study on the COVID-19 crisis management and the impact of the pandemic on social, human rights in Georgia.
Georgia has reported just two new cases of the coronavirus earlier today, bringing the total number of cases to 1,179. 959 of the 1,179 patients have recovered, while 17 others have died. As of today 203 people remain infected with COVID-19 in the country. One of the two new patients had contact with an infected individual and was under quarantine, while the remaining one does not know how he contracted the virus.
Georgia has reported three new cases of the coronavirus earlier today. Two of the three new cases are imported (one is a truck driver), while the remaining one patient does not know how he contracted the virus. Since February 26, 2020 Georgia has had 1,182 cases of the coronavirus. 962 of the 1,182 patients have recovered, while 17 others have died. As of today 203 people remain infected with COVID-19 in the country.
Georgia has reported seven new cases of the coronavirus earlier today. Five of the seven new patients have had contact with infected individuals, one case is imported, while the remaining one individual does not know how he contracted the virus. Since February 26, 2020 Georgia has had 1,213 cases of the coronavirus. 994 of the 1,213 patients have recovered, while 17 others have died.As of today 202 people, who contracted the virus in the country, remain infected with the COVID-19.
Georgia has reported 25 new cases of the coronavirus earlier today, bringing the total number of cases to 1,250. 1,010 of the 1,250 patients have recovered, while 17 others have died. As of today 223 individuals remain infected with COVID-19 in Georgia who tested positive for the coronavirus in the country. Adding to the 223 active infections, there are 38 other COVID-19 patients in the country who tested positive for the coronavirus abroad and were transported to the homeland.
Mestia municipality in western Georgia, one of the most visited tourist attractions in the country, has been placed on lockdown as 16 people have tested positive in the past two days in the municipality for the coronavirus. People will not be able to enter or leave the municipality without the police’s consent. Tourists who are now in the municipality will be placed under quarantine in hotels where they are currently located (if the hotels meet the recommendations of Georgia’s Health Ministry) or will be transported to other quarantine zones.
Georgian PrimeMinister Giorgi Gakharia has dismissed media reports that the government has plans to impose coronavirus restrictions in Kazbegi municipality of eastern Georgia, as seven border guards in Larsi checkpoint, at Russia-Georgia border, have tested positive for the coronavirus.
Georgia has reported 23 new cases of the coronavirus earlier today. Six of the 23 new patients are from Lenjeri village of Mestia municipality which is on lockdown. Eleven of the new patients contracted the virus from contact with infected individuals in the country, two new cases were imported (both are truck drivers), one new patient is a medical personnel, while the source of infection has not been identified in the remaining three cases. Since February 26, 2020 Georgia has had 1,306 cases of the coronavirus.
The government of Georgia has approved the Law on Entrepreneurs, that soon will be sent to the Parliament of Georgia and if approved will come into force on January 1, 2021, announces the Ministry of Justice of Georgia.
The Georgian government will continue subsidising pre-existing bank loans for companies in the hotel industry over the next six months, said PM Giorgi Gakharia earlier today.
Georgian Economy Minister Natia Turnava says that the increased rate of foreign direct investment in the second quarter of 2020 proves that despite the pandemic the Georgian economy is gradually recovering.
Georgian businessmen have asked Prime Minister Giorgi Gakharia to extend benefits businesses enjoyed in the spring amid the coronavirus.
The Georgian Business Association has asked the government of Georgia and the newly elected parliament to make changes to the Tax Code as soon as possible in order to extend the tax breaks imposed on businesses in the spring amid the coronavirus outbreak.
The government of Georgia has imposed further restrictions to curb the spread of the coronavirus in the country today, however to ease the burdens for businesses and the public the government has also announced supportive measures.
Two individuals have been detained at a rally in Batumi earlier today in which the opposition and their supporters demand a meeting with the head of government of Adjara Autonomous Republic Tornike Rizhvadze.
The State Audit Office will study the effectiveness and compliance with the law of the anti-crisis plan of the government implemented during the Covid-19 pandemic.
The government of Georgia will help companies that bought or leased state property through auctions and later suffered during the pandemic, announces Georgian Economy Minister Natia Turnava.
A year into the coronavirus pandemic Georgians remain concerned about the state of the economy and the impact of Covid-19, reads poll results released today by the National Democratic Institute (NDI or the Institute) and CRRC Georgia.
The government of Georgia is going to present a 10-year development plan in May, which will convey the government’s vision of how to emerge from the coronavirus crisis, announces Georgian Prime Minister Irakli Garibashvili.