Economy Minister says Georgia’s economy will contract by 4% this year

According to the most conservative forecasts, this year will end at least with -4% for our economy, Minister of Economy and Sustainable Development Natia Turnava said at the presentation of the anti-crisis economic plan.

As the Minister noted, as a result of the government's effective policy and anti-crisis plan, in 2021 the Georgian economy growth may amount to 4% growth. During the presentation, the Minister spoke about the specific steps aiming at supporting the business hit by the coronavirus crisis and noted that the benefits in terms of income tax will help businesses to keep jobs.

She spoke about the benefit offered by the government to the businesses. According to the Minister, salaries up to 1500 GEL will have a benefit in paying income tax, and up to 750 GEL - will be fully exempt from income tax.

“By taking this measure, we are doing our best to support the business in order to keep the employees, ”said Minister Turnava.

Victor Kipiani - My recommendation would be to study thoroughly practical ways and requirements for joining the White House’s recently announced “Economic Prosperity Network”
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