“It’s the first time in
many years when the budget announced ambitious targets for economic growth of 5%. I
can only hail the government’s plans, but it will be very
difficult for Georgia’s economy to grow at a rate of 5% in
2020, ” Irakli Kovzanadze, the Chair of the Budget and Finance Committee, said while discussing Georgia’s draft budget for 2020.
According to Kovzanadze, as per
the recent data, inflation reached 6, 9% and will increase to 7% by the end of
the year that is a serious challenge for the country.
“There is also another
factor - the National Bank’s tightened monetary policy helps to cope with
inflation, but the “expensive money” principle still hinders the economic growth, ” the MP notes.
Kovzanadze says that the current
draft budget doesn’t differ from the
first option, which was sent for - the current document also does not take into
account the comments and recommendations made by deputies.
hope that by the end of November the draft budget will be fully agreed with
international financial organizations and will take into account the
recommendations given by the MPs,” Irakli Kovzanadze points out.