NEWS

2 billion GEL allocated to stimulate Georgian economy during coronavirus crisis

There is 351 million GEL (about $106.04m/€96.75m) mobilised in the crisis budget of Georgia. Photo: Nino Alavidze/Agenda.ge.

Agenda.ge, 01 Apr 2020 - 12:31, Tbilisi,Georgia

A total of 2 billion GEL (about $0.60b/€0.55b) has been allocated to assist the Georgian economy in the tough period caused by the coronavirus global crisis, announces Prime Minister Giorgi Gakharia.

Gakharia said that 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 2020.

When we discuss this issue with our partner international financial organisations we all agree that we are entering a period of recession. This is the impact of global trends on the Georgian 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 this year", Gakharia said.

Gakharia also announced that in the crisis budget 351 million GEL (about $106.04m/€96.75m) has been mobilised.

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