The Impact of the global economic crisis caused by the coronavirus pandemic on Georgia, the government's economic plan and the steps planned for social support of citizens and businesses — these issues were discussed by the Prime Minister of Georgia with representatives of business and the financial sector during a meeting in the government administration. This is reported by the press service of the administration.

The meeting was attended by Deputy Prime Minister, head of the Ministry of Infrastructure Maya Tskitishvili, Finance Minister Ivane Machavariani, and economy Minister Natia Turnava.

Business was represented at the meeting by Soso Pkhakadze, President of the Business Association of Georgia, Archil Gachechiladze, General Director of the Bank of Georgia, and Vakhtang Butskhrikidze, General Director of Tibisi Bank.

President of the national Bank Koba Gvenetadze took part in an online conversation and spoke about the monetary and monetary policy of the national Bank in the post-pandemic period.

The meeting focused on medium-term economic parameters, as well as the government's economic plan, including indicators of the state budget for 2021. Representatives of the financial sector and business named the economic challenges that, according to them, should be reflected in the medium-term economic development plan. It was noted that it is critically important for the country to quickly recover from the crisis, to preserve and restore jobs as much as possible, and to improve the level of income of the population.

In addition, the parties noted the importance of strengthening coordination and cooperation between the government of Georgia, business, and the national Bank in the post-pandemic period.

The government of Georgia is working on developing a new aid package based on negotiations with businessmen and is going to present it to the public in the near future. It is expected that details of the next targeted social assistance to citizens affected by the pandemic will soon be made public.

"Georgian Prime Minister Giorgi Gakharia, together with the government's economic team, continues to discuss the economic crisis and seek solutions together with representatives of the business community," the press service of the government administration reports.

In April, the Georgian government approved an anti-crisis plan to provide assistance to the population and businesses, which went through several stages.

Due to the deterioration of the epidemiological situation, the Georgian authorities are again discussing the possibility of declaring a lockdown – that is, completely restricting movement and economic activity to all except for strategic objects. Epidemiologists say that restrictions are necessary, but the government reminds that the Georgian economy, which is already experiencing a recession, may not be able to withstand such harsh measures.

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