It’s necessary to set up a $1-billion fund to help the country’s economy to overcome the challenge caused by the coronavirus outbreak, Mamuka Khazaradze, founder of the “Lelo for Georgia” political movement, said on Thursday.

Khazaradze thinks that the fund should be created with the involvement of the government and the National Bank of Georgia and those industries that are most threatened by tax burdens should have tax exemptions.

“The National Bank, the commercial banks must urgently draw up a special plan, they should register all the industries that will receive the first economic blow and, consequently, a serious refinancing and serious package of benefits. In this situation, with the involvement of the state and the National Bank, we think we need to create a $ 1 billion stabilization fund that will help the country’s economy to overcome this challenge. It is also our proposal to submit the legislative initiative and give tax benefits to those industries, which are most threatened by tax burdens. We have a concrete plan in this regard, but hopefully the government is thinking about it and we are waiting for their steps, because today we all have to come together to protect the economy from collapse, ”Khazaradze said.