Irakli Kovzanadze called on the Government to reduce the Budget Deficit

11 Jun 2021
Irakli Kovzanadze called on the Government to reduce the Budget Deficit

The Government and the Finance Ministry shall apply the advantages created by the accelerated economic growth and maximally reduce the Budget deficit upon the correction, which today achieves 7.6%”, - the Chair of the Budget and Finance Committee, Irakli Kovzanadze stated at the plenary session when the Parliament was hearing the report of the Finance Minister, Lasha Khutsishvili within the Ministerial Hour.

According to I. Kovzanadze, reduction of the budget deficit is important for fiscal and monetary stabilization and for creation of the basis of sustainable economic growth.

He stressed various issues, including tax remissions expressing his negative attitude to the remissions. He called on the Government to study and analyze the efficiency of the current tax remissions.

We know that the Ministry has started to analyze the tax remission efficiency. Generally, I am against remissions, especially when they are too expensive for the population without any outcome or minimal outcome. Let’s call everything a real name and provide everyone in need with subsidies, subvention, grants, credit etc. – it will be fairer and more effective”, - he added.