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Georgia plans to finance projects with high economic returns

Finance Materials 12 June 2021 20:16 (UTC +04:00)
Georgia plans to finance projects with high economic returns

BAKU, Azerbaijan, June 12

Tamilla Mammadova – Trend:

In the coming years, only projects with high economic returns will be financed from credit resources in Georgia, said the country's Finance minister Lasha Khutsishvili, Trend reports via Georgian media.

"Those projects that have more social than economic effect will be financed from budgetary resources," he said.

The Ministry of Finance of Georgia plans to finance investment projects worth more than 20 billion lari ($6.3 billion) in the next four years.

According to Khutsishvili, as a result of reforms in the field of public finance management, Georgia has reached high results in various international ratings.The minister noted that the country continues to carry out reforms in the field of public investment management.

With the support of the EU, the World Bank and the International Monetary Fund, a methodology for managing investment projects was developed.

It was also noted that COVID-19 pandemic has wreaked havoc on local businesses. The Georgian economy continues to experience the dire consequences of COVID-19, which has affected all areas of economy.

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