2019-11-21
I would like to urge the National Bank to be active in using all available instruments to maintain price stability and inflation targeting, Georgian Prime Minister Giorgi Gakharia stated during today's Cabinet meeting.
According to the Prime Minister, coordinated efforts are necessary to ensure economic growth and maintain explicit target on inflation limits and price stability at the beginning of the year.
"We all understand well that we must work together with the National Bank to ensure economic growth and maintain explicit inflation limits that we had at the beginning of this year, along with price stability. That is our key goal, and the Government will surely take all necessary steps within its purview," Giorgi Gakharia said.
The Head of Government instructed the Finance Minister to pay special attention to fiscal policy and the Revenue Service.
"In this context equally important is fiscal discipline, which is why the Finance Minister has been instructed to pay special, detailed attention to the work of the Revenue Service. Today, we give priority to a fair, transparent, and effective tax system. That will be a key factor in economic development and the state's functioning in general, which is why special attention will be paid to the Revenue Service and fiscal policy," Giorgi Gakharia emphasized.
The Prime Minister instructed the Finance Minister to lower credit limits from 200,000 to 100,000.
"The Finance Minister is instructed to reconsider the restricting element-meaning the foreign currency credit limit of 200,000 GEL-and report at the next Cabinet meeting the feasibility of lowering said limit to 100,000 GEL," Giorgi Gakharia stated.
According to the Prime Minister, destabilizing developments in the country's social or political life invariably and directly affect its economic life.
"Over the past few years in our country's life, we have seen repeatedly stated that economic growth and new jobs are the main challenges, and everything that happens in our social or political life-as soon as it becomes destabilizing in nature and takes to the streets in the form of illegal ions-directly affects such an important dimension as our economic life," Giorgi Gakharia said.
Prime Minister's Press Office