Deloitte experts give feedback on Georgian fiscal, monetary, sectoral economic policies, recommendations to Georgian government
The Deloitte experts had much praise for steps taken by Georgia amid the coronavirus pandemic and said that they were given in a timely manner and in line with international practice. Photo: Georgian government press office.
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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.
The Deloitte experts had much praise for steps taken by Georgia amid the coronavirus pandemic and said that they were given in a timely manner and in line with international practice.
Economic experts from the New York office of Deloitte highly assess the anti-crisis measures taken by the Government of Georgia and its sectoral support,” said the prime minister's advisor for economics, Beka Liluashvili after the experts’ first presentation about the post-crisis economic plan.
The consultative group has been selected based on its members' many years-long experience with emerging economies and their high level of professionalism. Photo: Government of Georgia press office.
It was noted Georgia has good opportunities to become a more attractive investment platform taking into account its achievements in the international ratings given that many global companies are looking for new arrangements and places to do business.
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.
The consultative group has been selected based on its members' many years-long experience with emerging economies and their high level of professionalism.
On June 4, Gakharia said that the post-crisis plan will give Georgia an opportunity to be effective and ready to participate in global competition. He said that based on the plan, some steps will be taken this year, but the plan will be oriented mostly for the following year.
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 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.
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 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.
Georgia has chosen more than 400 companies including Finnish multinational communication company Nokia and has started talks to the companies’ managements to attract FDIs to the country.
International experts have praised Georgia’s fiscal policy during the pandemic, calling it ‘correct and prompt’, reports the government’s press office. Global experts working on Georgia’s post-crisis economic plan have arrived in Georgia today.
International experts have praised Georgia’s fiscal policy during the pandemic, calling it ‘correct and prompt’, reports the government’s press office. Global experts working on Georgia’s post-crisis economic plan have arrived in Georgia today.
The Georgian Parliament has chosen international auditor company PricewaterhouseCoopers (PwC) to conduct an audit of the State Audit Office’s 2020-2021 report.
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.
The amount of the external debt of the Georgian government borrowed within the last eight years amounts to 13.3 billion GEL ($4.1 bln/€3.5 bln), thus the total amount of government’s external debt is now three times more than it was eight years ago.
A state commission will be set up to work on a long-term economic development plan, announces Georgian Prime Minister Irakli Garibashvili.