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Thursday, 27 October 2016


Baindurashvili sends the Ministry of Finance on debt travel

2011-06-21 22:44

Baindurashvili sends the Ministry of Finance on debt travel. 18641.jpegGeorgia is panic-stricken. Finance minister Kakha Baidurashvili, Mikheil Saakashvili's close teammate, has submitted voluntary resignation from his post. The country leaders bow and courtesy thanking the former head of the finance ministry for taking the country out of the economic crisis and the liberal reforms that have been carried out. Finally, Georgian leaders acknowledge that the driving force of Georgia's economy was the president's "grey eminence" - not the president himself.


However, it's too early to be happy: it will take Georgia a long time to pay off immense debts Baindurashvili has left as a heritage.

Resignations in the Cabinet have been rumored for a while with the vote of mistrust expressed to economy minister Veronica Kobalia and minister of agriculture Bakur Kvezereli. Quite unexpectedly it was Kakha Baindurashvili who submitted resignation. He is one who has assisted president Mikheil Saakashvili in his difficult job of putting rose-colored glasses on people of Georgia. Remarkably, from now on the former minister of finance will take charge of the board of the Georgian Post put on an auction long ago. Besides, he plans to do some "private business".

It seems quite probable that Mr. Baindurashvili will get rid of the postal problem: he is no more burdened with public responsibilities and will not be accused of power abuse. After all, his contribution to the increase of the state budget is much greater than that of other officials: he proposed to issue a new series of Eurobonds to attract additional investments.

 "In 2009 a financial incentive project was carried out to help the country's economy overcome the crisis. As a result, the real economy growth began. 2010 was the year of drastic economy growth. Presently the budget deficit has gone down from 9.2% to 3.4%. This all is his achievement. Today we have almost eliminated the external debt problem", - PM Nika Gilauri praised former head of the finance ministry. Among other achievements the prime minister mentioned adoption of the new Tax code of Georgia, introduction of new services in the ministry's system, electronic service and elimination of customs issues.

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