AGAINST THE BACKGROUND OF REDUCTION OF THE BUDGET REVENUE, THE GOVERNMENT CUTS OPERATIONAL EXPENDITURE
Georgia’s Prime Minister Giorgi Gakharia reported that revenues of the country’s budget, which were planned at the beginning of this year at the level of about 14 billion lari, “have been descended to 11 billion”.
At the same time, we are obliged to support social groups and to fight against COVID-19 coronavirus, “therefore, we made serious economy”, the Premier pointed.
PRIME MINISTER: WE WILL INSURE RISK OF DIFFERENCE IN EXCHANGE RATE TO INFRASTRUCTURE PROJECTS TOO
We have insured risk of difference in exchange rate on 9 main food products for major suppliers, and we will continue these steps “until this turbulence in economy will proceed”, Georgia’s Prime Minister Giorgi Gakharia declared on air of TV company Imedi late night on April 1.
In particular, the Premier said, “We have offered similar approach to companies, which already implement infrastructure projects or are winning tenders right now”.
SUPPLY AND/OR IMPORT OF CERTAIN CATEGORIES OF MEDICAL GOODS IS EXEMPTED FROM VAT UNTIL OCTOBER
Supply and/or import of certain categories of goods, intended for medical purposes, is exempted from VAT until October 1.
That is envisaged by joint order of Georgia’ Finance Minister and Minister of IDPs from Occupied Territories, Labor, Healthcare and Social Protection, issued on April 1.
ECONOMY MINISTER: IN CASE OF OBSERVANCE OF SAFETY GUIDELINES, CONSTRUCTION COMPANY WILL BE ABLE TO CONTINUE ACTIVITY
Georgia’s Minister of Economy and Sustainable Development Natia Turnava declared that activity of construction sector is limited at this stage, however, “as soon as we will be convinced that this or that company observes the established guidelines, the company will continue activity”.
As the Minister explained, construction sector, which employed thousands of people, was sphere of increased risk and as such was subjected to restrictions, introduced in the country because of COVID-19 pandemic.
REGULATING COMMISSION’S CALCULATIONS: 17M LARI WILL BE SPENT MONTHLY FOR UTILITY PRIVILEGES IN SPHERE OF ELECTRIC POWER, 27M LARI – IN SPHERE OF GAS
In attempts to relief crisis, caused by COVID-19 pandemic, Georgian government decided to cover fully during 3 months (March, April, May) utility bills to those citizens, whose monthly consumption of electric power does not exceed 200 kWh, while consumption of gas – 200 cubic m.
By calculations of Georgian National Energy and Water Supply Regulating Commission, these privileges in part of electric power will cost monthly 17 million lari.
NBG DEVELOPED PROVISIONAL SUPERVISING PLAN
National Bank of Georgia (NBG) declared about development of provisional supervising plan, aiming mitigation of negative impact of COVID-19 pandemic and encouragement of national economy.
As NBG indicated, this plan is in full accordance with recommendations of the IMF, European Central Bank (ECB) and other leading financial institutions.
PRIME MINISTER: RULING TEAM HAS GROUNDED HOPE FOR SYSTEM SUPPORT OF “CARTU” FUND
Today, when we face heavy economic and epidemiologic challenges, Cartu fund (charity founded by Bidzina Ivanishvili, billionaire leader of ruling Georgian Dream) will play a system role, Georgia’s Prime Minister Giorgi Gakharia declared on air of TV company Imedi. “This statement was already made” by the fund, he noted.
CORONAVIRUS INFECTION CONFIRMED TO 7 EMPLOYEES OF NBG
A week ago, one of our employees showed of symptoms, specific for COVID-19, National Bank of Georgia (NBG) declared, pointing that this employee and his direct co-workers were moved to self-isolation.
Conducted researches confirmed infection with coronavirus of 7 employees, being in isolation mode, NBG reported.
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