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President: government should reveal its economic plan to the public

By Tea Mariamidze
Monday, March 9
The president’s administration states that the government should reveal the anti-crisis plan in order to inform the people concerning the current economic downturn.

The administration also stresses that the president will consider calling a special parliamentary sitting regarding economic issues, as was requested by the opposition United National Movement.

However, the president’s administration stresses that calling of such a session would be meaningful if the country’ economic team, as well as the head of the National Bank attend as well.

“The government has failed to live up to its pledge to present its currency stabilization plan by March 5 as it had been promised. The president’s aim is not for the government to present this plan before him, but to the people. Turmoil, as a rule, is caused by a lack of information,” the president’s advisor in economic issues Giorgi Abashishvili said.

The government has stressed that it would cut administrative spending to limit an increase in the budgetary deficit as economic growth is expected to fall from the government’s initial target of 5% to 2%.

On March 5, the government instructed state agencies to present their plans on how to cut expenses before March 16.

Finance Minister Nodar Khaduri said that only after gathering such information, future steps would be specified.

The International Monetary Bank has also made its recommendations, advising the authorities to cut spending or increase taxes.

Khaduri claims that taxes will not be increased.

Responding to the 29% devaluation of the lari against the USD, the opposition United National Movement has announced a street rally to be held on March 21, claiming that the current government’s economic policy led the country to the crisis.

They are also protesting the current government’s “pro-Russian orientation.”