26 May 2020,   07:07
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We are fighting on two fronts: healthcare and economy – the Prime Minister

The Government is fighting on two fronts - the first is healthcare and the second is the economy. Such a statement made today the Prime Minister of Georgia.

According to Giorgi Gakharia, attaining a complete victory on one of these fronts will be meaningless if we suffer a loss with regard to either of the two.

“The Ministry of Finance and the Ministry of Economy were given the task of launching credit-guarantee schemes at the post-crisis stage, once we have emerged from the crisis, and we have already made the corresponding decision.

The assistance of our partner donor organizations is a possibility here. It is important for our businesses to know that these will be credit-guarantee schemes, which will enable us to help companies develop faster at the post-crisis stage.

According to our calculations, we can say that this concerns assistance with about 2 billion in credit guarantee schemes – and I emphasize that this applies to the post-crisis period. All of us must understand that just as we started to fight against the epidemic earlier than many others, today, we must begin creating a post-crisis economic program and we must have a clear distinction between what we do during the crisis and what we will do in the post-crisis period”, - said the Head of the Government.

He added that this is of great importance as global competition will begin between countries after the crisis, in terms of how fast they will be able to overcome economic problems.

“The Ministry of Economy has already presented a plan, which has received a positive assessment from the Government. The main focus is on renewing Georgian production – for example, renewing the operation of enterprises such as Agara Sugar Company – as the structures of both demand and supply have completely changed not only in our economy but in the region as well. Therefore, enterprises that may not have been significant in terms of effectiveness some months ago, for instance, acquire a new significance today. Correspondingly, the Ministry of Economy is being tasked with developing local production support schemes, not just within the framework of the Produce in Georgia program, but in other areas as well. This includes not only restricting imports but also utilizing various support instruments so that we can meet our domestic demand through our local production. This is of critical importance and we must start laying the groundwork for this today”, - concluded the Prime Minister.

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