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Vakhtang Butskhrikidze: Budget Deficit is One of Key Challenges in Georgian Economy

Vakhtang Butskhrikidze: Budget Deficit is One of Key Challenges in Georgian Economy

“Budget deficit is one of the key challenges in Georgian economy”, TBC Bank director general Vakhtang Butskhrikidze noted. Next year we expect 5% economic upturn, but everything depends on what budget parameters the parliament will approve.

“I think profits tax reform will bring positive results in long-term period. 6% deficit is a very high indicator, but we expect the mentioned figure to decline.

The Georgian bank sector has successfully recovered from the currency crisis. Consequently, compared to banking countries of the region, Georgia has got the best system.

As to dedollarization, this is a long-term process and this issue cannot be settled in one day. The National Bank initiatives will bolster dedollarization process, but additional measures will be also required”, Vakhtang Butskhrikidze noted.