Former PM criticizes state budget

Former Prime Minister Zurab Noghaideli, currently in opposition, has criticized the 2009 budget and foresees a serious and deepening crisis in the country.

Noghaideli states that the budget is not correctly formulated and that the deficit will actually amount to GEL 700-800 million. This will hinder the financing of social commitments.

Noghaideli predicts a reduction in economic development and a decrease in investments and exports. He also thinks the profit taxes will be lowered. He thinks that the state’s optimism over attracting investments has no basis.

As an alternative Noghaideli suggests his own plan for managing crisis.