The government committed GEL 3.55 billion (approx. USD 1.1 billion or 7.1%) to help the economy weather the impact of the pandemic. On 24 April 2020, the government presented an anti-crisis package focusing on providing social support (GEL 1.04 billion), stimulating economic growth (GEL 2.11 billion) and strengthening the healthcare system (GEL 350 million) to fight the pandemic. Sector-specific plans were introduced, notably for tourism, agriculture and construction.

 

 

Business support policies: Income support provided for retained jobs as income tax exemptions. 

 

Property tax exemption for 2020 and income tax deferral until the end of the year for the tourism sector, and three months’ utility subsidies. 

 

The volume of VAT returns was doubled to GEL 1.2 billion to supply companies with working capital.  

 

 

During the pandemic, the Georgia Revenue Service (GRS) introduced remote, electronic tax dispute hearings where taxpayers were offered the chance to have a remote hearing for their ongoing disputes. The e-hearing system has now been incorporated into the tax code of Georgia, meaning it will be maintained after the pandemic is over. 

 

 

 

Credit guarantee scheme increased to GEL 330 million, which secures a GEL 2 billion credit portfolio 90% guarantee on new loans, 30% on restructuring. 

 

Up to 80% interest subsidies for small hotels during six months. 

 

Grants for small businesses amounting to GEL 30,000 maximum. 

 

GEL 600 million provided to commercial banks. 

 

Additional state support through Increased cofinancing and leasing mechanisms. 

 

Commercial banks will accept loan repayments with a postponement of three months.  

 

Full debt writeoffs for those engaged in agricultural activities. 

 

Central bank interventions to lower capital and liquidity requirements.

 

One-time assistance to 250,000 self-employed. 

 

Additional support is provided for those producing medical, hygienic and food products.

 

 

Monthly allowance for six months to those who lost their jobs or are on unpaid leave because of coronavirus (about USD 144.4 million), and further assistance for low-income families, persons with disabilities, and students. 

 

Introduction of pension indexation. 

 

Children living and working in the streets transferred to safe spaces. 

 

The government will cover exchange rate risks for importers for selected products, and utility bills were covered for three months (electricity, water and waste management bills for over 1.2 million families, natural gas bills for over 670,000 families). 

 

(Updated: May 2022) 

 

 

(Updated: August 2020)