Tbilisi, Georgia, Feb. 26
By Nana Kirtzkhalia - Trend:
Georgia's economic growth will be adjusted 2 percent downward, Georgian economy minister Giorgi Kvirikashvili said Feb. 25.
"The state budget will be adjusted," he said. "The administrative costs of the government will be reduced."
Kvirikashvili and Finance Minister Nodar Khaduri submitted a short-term plan of the national currency rate appreciation, which depreciated by 30 percent, to the businessmen Feb. 25.
Kvirikashvili said that new sources of dollar revenues will be ensured.
"First of all, this is the privatization of several government facilities, including a residence in Bobokvati (Ajaria), a former building of the National Bank and others," he said. "This will give us the opportunity to draw $ 300 million."
The businessmen expressed their satisfaction with the outcome of the meeting, although they did not go into other details of the plan submitted by the government.
The meeting took place amid the rally of the dissatisfied citizens who demand the resignation of the government in connection with the lari rate depreciation.
The lari rate versus the dollar rate has begun declining actively since November 20, 2014. As of the recent trading, the rate was set at 2.2619 lari/ $ 1. Until that time, Georgia's national currency was set at the level of 1.74 - 1.76 lari / $ 1.
The National Bank began tightening the monetary policy in February in connection with the expected rise in prices in Georgia due to the depreciation of the national currency.
Edited by CN