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Thursday, 26 April 2018


A locomotive for the Georgian economy

2009-07-02 11:03

3233.jpegThe Georgian government has at last revealed the package of measures aimed at boosting the economy.  Priority is given to construction and the banking system. When the crisis is over, these two spheres are expected to pull the rest of the economy fields.


The government has long been nurturing the plan of dragging the economy out of the crisis. As soon as the plan was almost ready its essence was revealed to the experts. The plan was instantly criticized by the economists, who doubted as to the necessity of issuing any treasuries and disapproved of the slow rate at which the burden of taxation is decreased, trying to attract attention to the overdue credits problem.

Finally, the day has come when the plan is ready as last. It was presented to the public by Prime Minister of Georgia Nika Gilauri. The government members are expected to approve the document today. The package of measures comprises five issues. The first one is related to the construction sector, which has been most affected by the crisis. The essence of the officials' proposal lies in helping the builders to complete the objects being in construction and realize the newly-built dwellings afterwards. The projects are going to be completed by means of the credits extended by the banks against the state guarantee. The new apartments, however, will be sold... to the state. In Tbilisi, the new houses will be occupied by the residents from the central regions who currently live in the houses being in the state of failure.

According to the developers' association, the new joint program promoted by the Tbilisian city executive board, construction companies and banks will provide dwellings for about 50 thousand families who live in the old town houses being in the state of failure. This has been reported by Business Georgia. On the whole, about 40 construction companies are going to take part in the program; they are going to complete the construction of 420 thousand square meters of dwellings. Construction is expected to be resumed this autumn.

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