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Friday, 28 October 2016


The Georgian government has remitted debts of 100 companies

2011-08-12 15:27

The Georgian government has remitted debts of 100 companies. 20778.jpegThe Georgian government has decided to cancel the debt of about one hundred public companies. As reported by the "GHN", in this case we are talking about hundreds of budget organizations which were released from tax debts.

According to preliminary information, total debt of 100 companies in front of the Georgian state is about 12.859 million GEL.

All of these enterprises and companies entered a Unified electronic database of budgetary organizations of the country. At the moment their status in the database is marked as "inactive".

Recall, earlier it became known that the Georgian government intends to put up for auction a number of strategic projects.

Shares of Georgian Railways, Electrosystems, International Oil and Gas Corporation will now be traded on the London and New York stock exchanges.

However, we are talking about sell of small - 15, 20 and 25 - percent stake. That is, investors who purchase shares of the biggest Georgian companies, do not have the opportunity to control these businesses.

According to the Georgian Prime Minister Nikoloz Gilauri, this move will attract more investment into the country.

Opposition party "Free Georgia" have already opposed the privatization of state companies.

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