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Georgia: Calls For Long-Term Economic Recovery Plan


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Experts in Georgia have called for the government to create an integrated plan for the country’s post-Covid economic recovery, warning that a long-term strategy was badly needed.
According to latest government figures, 1,100 companies ceased operating and 150,000 people lost their jobs in Georgia in 2020. Both exports and imports decreased, and an entire season of tourism revenue – a major source of income – was lost.
The unpredictable business environment was further fueled by uncertainty due to ongoing Covid-19 regulations and a political crisis that followed last October elections, with the opposition continuing to boycott parliament.
According to Georgia’s 2021 budget, the rise of public debt to 60.1 per cent of GDP - 32 million GEL (18.6 million US dollars) led to a 7.7 per cent deficit. This in turn went against the requirements of a ....

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