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Parliament’s Recommendations to Overcome the Crisis

The Parliamentary Committee on  Sector Economy has developed a series of recommendations to the government of Georgia, which, according to deputies, will be able to contribute to the stabilization of the economic situation in the country.

In particular, to  accelerate the privatization process, to ease visa regulations, reduce  the tax burden for both local and foreign investors, to  adopt  minimal new regulations, to promote entrepreneurship, to develop measures to increase the tourist flow, to accelerate  the implementation of infrastructure projects, to conduct various international conferences and seminars, as quickly as possible to solve the problems existing to  investors, to promote export, to attract investment, to reduce administrative costs, to accelerate the necessary reforms.

The National Bank is also encouraged to continue measures to preserve financial stability in the framework of monetary policy determined by the Parliament.

In turn, the Government presented its program for overcoming the crisis.

According to Giorgi Kvirikashvili, the Minister of Economy,  the plan is divided into short, medium and long terms.

“First of all we are talking about more active privatization, promotion of tourism, we are already implementing through specific measures and campaigns. We also intend to intensify the flow of investment, and for this we will carry out various business forums and talk directly with investors. We also intend to reduce administrative costs, which, as a rule, always have a positive impact on the business climate. It is also planned to  revitalize   infrastructure projects, which provides for additional credits for their implementation. Legislative business stimulation  is also important ,”- the Minister says.