BAKU, Azerbaijan, June 10
By Tamilla Mammadova – Trend:
This year, export is expected to decrease by more than 6 percent in Georgia, and in terms of tax revenues, the reduction will amount to 1.5 million lari ($504,955), said Georgian Deputy Finance Minister Giorgi Kakauridze, Trend reports via Georgian media.
He made the remark at a meeting of an economic group under the Interdepartmental Coordination Council, at which the presentation of the country's anti-crisis budget was held.
According to Kakauridze, the government also expects a significant reduction in tourism revenue and remittances.
“Uncertainty is one of the most serious challenges. Nevertheless, today's data allow us to say that in 2020, unfortunately, the economy will shrink by 4 percent," he said.
According to him, the budget deficit will increase from 2.5 percent to 8.5 percent.
In subsequent years, as part of the post-crisis plan, Georgia will definitely need to bring this indicator to a level that ensures fiscal stability. With regard to revenue reduction, the loss of the consolidated budget due to the pandemic is 1.8 billion lari ($605.9 million),” said Kakauridze.
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