Georgian PM: "we will help those who have lost their jobs”
PM highlighted the government's initiatives that have already been put forward to help businesses or individuals who have suffered during the global coronavirus crisis and state of emergency in Georgia. Photo: Gov't of Georgia.
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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.
We are working on this issue and will offer them help", said Gakharia on Imedi TV’s Imedis Kvira.
Gakharia highlighted the government's initiatives that have already been put forward to help businesses or individuals who have suffered during the global coronavirus crisis and state of emergency in Georgia.
- Gov’t presents coronavirus anti-crisis plan for Georgian business: what support can business expect?
He said that the government postponed the payment of value added tax by three months (March, April, May) for those involved in tourism and the state is ready to spend 100 million GEL (about $30.44m/€27.85) to support them.
Gakharia also said that the 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.
The electricity concession applies to 1.2 million households, while the natural gas concession applies to 671,000 families.
Despite the state of emergency and a nationwide curfew that aim to contain the spread of COVID-19 in Georgia, there are 18 economic activities that still continue in the country. The government of Georgia is authorised to additionally specify a list of those economic activities that are not restricted and whose operation is necessary during an emergency.
Starting today currency exchange booths and other financial organisations have temporarily stopped functioning today in Georgia with an aim towards reducing the spread of the coronavirus in the country, announces the National Bank of Georgia (NBG).
What support can business expect?
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.
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.
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).
The Georgian government will identify people who need help as a result of having lost jobs amid the state of emergency in Georgia. The government will determine who has lost the job in this period through the decreased amount of people who pay income taxes, said Vice Prime Minister Maia Tskitishvili earlier today.
Georgia will compensate people who lost their jobs while on leave due to pregnancy, childbirth, childcare or adoption of a child amid the coronavirus crisis.
Georgian commercial banks will postpone payment of loans without capitalisation of interest for another three months for all citizens who have lost their jobs during the coronavirus crisis in Georgia, announces the Prime Minister Giorgi Gakharia.
In total 57,443 self-employed people have registered in the last 10 days to receive one-time assistance of 300 GEL from the government of Georgia in light of the coronavirus pandemic. The registration of self-employed people on the website of the Ministry of Health of Georgia to receive one-time assistance from the state began on May 15.
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 number of people who will receive 1,200 GEL in state support due to having experienced a loss of income during the coronavirus pandemic has increased, says the Revenue Service.
About 500 artists in the electronic and club music industry will receive financial assistance from Tbilisi City Hall, which has allocated 2 million GEL in order to help industry players overcome the Covid-19 crisis.