First Deputy Prime Minister and Minister of Finance Dimitri Kumsishvili took part in the session on tobacco taxes, state healthcare and mobilization of internal resources and introduced its participants to Georgian experience and major achievements on taxation of tobacco products.
This session was held in Washington, DC, in the framework of the International Monetary Fund’s and World Bank’s annual meetings.
The main speakers were the World Bank President Jim Yong Kim and the former Mayor of New York Michael Bloomberg.
In his speech, the first Vice-Premier of Georgia Dimitri Kumsishvili spoke about the government's vision in terms of reduction of tobacco consumption in all segments of society, especially among adolescents. Effective and result-oriented fight against tobacco consumption and the relevant tax policy is an important instrument in reducing the risks.
According to the first Vice-Premier, excise rates on tobacco products have been growing in Georgia since 2013 and has grown five times in the last 4 years. As a result, according to official statistics, consumption of tobacco decreased by 25 percent in Georgia and the budget income from tobacco taxation increased by 150 percent.
The participants of the session met the example of Georgia with great interest.