Georgian finance minister informs business people from USA and EU countries of prospects of stimulating economy

Business Materials 8 June 2009 18:41 (UTC +04:00)

Georgia, Tbilisi, June 8 / Trend , N.Kirtskhalia /

On June 8, the Finance Minister of Georgia Kakha Baindurashvili met with the representative of the American Chamber of Commerce in Georgia and the Georgia-EU Business Council.

The discussions focused on legislative initiatives, prepared by the Ministry of Finance, in particular, the amendments to the Tax Code and 2009 Public budget, Baindurashvili said after the meeting.

The Minister informed the meeting participants of the macroeconomic situation in the country and the government's vision on the prospects of further stimulating the economy.

"We talked about the steps that the government want to take in order to mitigate the impact of global economic crisis in Georgia, in particular, talked about a package of fiscal stimulating on amendments to the tax and customs codes, and changes to the taxation of export of services and leasing," said Baindurashvili .

According to the Minister, the businessmen had some comments that are mainly related to errors in the tax system, in particular, issues of administration of double taxation. Problem is also associated with stimulation of small and medium businesses, since the banks have stopped credits in this direction. Baindurashvili said that the government is working on these issues.

The vision of the government on these issues and reform, which the Ministry of Finance of Georgia holds, is positive, said the representative of the American Chamber of Commerce in Georgia, David Lee.

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