საქართველოს მთავრობა|Government of Georgia

On December 16, 2011, Prime Minister of Georgia, Nika Gilauri, met with representatives of Non-Governmental Organizations. The Prime Minister introduced the 10-Point Plan of the government of Georgia for modernization and employment (2011-2015) and 2011 Report to participants of the meeting.

"Short time ago, we introduced the 10-Point Plan for modernization and employment to the public and declared that we were ready to discuss the Plan with absolutely everyone, as everyone's view is interesting to us. I have met with representatives of different professions, different layers of public. The 10-Point Plan is posted of our website.

This Plan is a renewable document; this will be renewed in every six month and thus, we would like absolutely all layers to be involved in drawing out of its new version.

This is a really renewed version. We submitted the first version to the public at the beginning of the year. After that we considered the new circumstances, which were connected with economy of our Region. Everything is incorporated in this renewed document. Although, I would like to emphasize that this is not a last version, this will be renewed in every six month and everyone's view is interesting to us. I address to the public to read this and give us their remarks.

Today, we are meeting with Non-Governmental Organizations.

The only main aim of this document is creation of jobs. Such type of document is not first for us. At the beginning of the year 2009, we submitted an anti-crisis plan to the public. Then, the main object of the document was to come out of recession. Recession signs were very obvious. After 2008 Russian aggression, as a result of 2009 inner political disturbances, and as a result of 2008 international economic crisis, the country has a minus growth. This has impacted Georgia; the whole region was in a bad recession. Then, we proposed the public an economic stimulation package -additional investments of GEL 2.2 billion in economy, and a part of tax reduction. Then, we worked out the package with the National Bank and offered new regulations for banking sector.

The package had worked. As a result, 2009 economic drop amounted to 3.8% only, instead of 10-12% or 20%. We have come out of recession most rapidly in the Region.

In 2010, growth amounted to 6.4%; this year, we expect more than 6%. For the next year, we have planned economic growth of 5-5.5%. The document has fulfilled its mission, we have achieved our aim.

This (strategic 10-Point Plan for modernization and employment) document is designated for the years 2011-2015, and for what is to be done by the government, public and the State in order to create jobs.

Now, our aim is not fighting against recession and saving economy. We have carried out quite a great number of reforms, many of them were quite painful, and we would like to get result from these reforms - creation of new jobs.

I would like to mention several directions. The first and the most important is macroeconomic stability. Several parameters are meant: healthy economic growth, healthy budget deficit, low dingle digit inflation level, healthy banking sector, low foreign debt, etc.

Today, macroeconomic parameters of Georgia are one of the healthiest parameters in the world, if we take all these parameters together. Growth, inflation, budget deficit, banking sector, international reserves, growth of credit portfolio, all these are quite healthy today.

Economic growth is more than 6%, budget deficit is reduced to 3.5% whereas it amounted to 9.2%.

Foreign debt, one of the main issues, which is of great concern of economy of very many countries, is quite low, amounting to 32% and is not rising, but decreasing. Total debt amounts to 41% and it is decreasing as well.

Accordingly, all indicators show that macroeconomic parameters of the country are correct, healthy, which means that at present, when different investors and investment money has still been very big in the world, they are searching for new markets. They are doing so because several countries have become quite problematic, for example, so called Arab Spring countries, Greece, Italy is having certain problems as well. Respectively, investors making investments in these countries, are searching for new markets and Georgia may freely become such a market," pointed out the Prime Minister.

Prime Minister's Press Service