Khaduri and Kvirikashvili Present Plans to Overcome Current Economic Situation
Aiming to recover from the current economic situation, Minister of Finance, Nodar Khaduri and the Minister of Economy and Sustainable Development, Giorgi Kvirikashvili presented a new strategy at the Economic Committee on March 12, stating that in order to maintain a budget deficit limit, cutting administrative costs remains essential.
He explained that cutting costs will not affect infrastructure projects and social expenditures, and asked all of the structures which are not part of the executive authority, including the Presidential administration, Parliament and Court, to act accordingly.
Khaduri noted that the Ministry will concentrate on protecting customers’ interests in the financial sector, setting up a pension reform, creating deposit insurance and developing capital market via carrying out activities to make a better environment in the country.
Kvirikashvili on the other hand, has presented a three-year plan consisting of short-term, mid-term and long term goals to help Georgia overcome its current challenges. According to him, the short-term plan implies privatization of state-owned assets, which will give $300-500 million to the government.