Bobokhidze Teimuraz » Economy

What is your vision to accelerate economic growth? Which specific areas fall into your priorities and what kinds of policies would you propose to the parliament and the government of Georgia?

State is obliged to set up the politically stable environment for business, in order to attract investors.

What is also necessary is the improved quality of national goods that will promote import.

Agriculture should be promoted to redeem its priority. I also plan to credit small and medium-sized businesses, at annual interest from 2% to 5%. The first year’s income will not be taxed at all, while for each next year, the income tax should be increased by 2%.

What is meant to promote the economic growth is, in addition to private investments, is also the promulgation of the projects financed from the state budget. These projects should be primarily those providing economic return, or, to be more precise, during the first year of my presidency, I would propose to the Government and the Parliament to spare extra funds on the order of 100 million GEL in the State Budget. This amount will be sufficient to set up industries with non-stop production in four or five regions of the country, in order to employ more local settlers, and also, to provide economic return – additionally, these productions will be capable to independently develop. More specifically, these industries can include (but not limited to) cattle-breeding, fruit and vegetable growing, or truck gardening, and also such a complex branch as light industry (for example, food industry).

It is so-called regime of regress taxation that can stimulate both local and foreign producers. The essence of this regime is the following: the more advance is the production and the higher is the income, the less is the tax payable by the producer. Conventionally speaking, if certain plant has produced # volume of output, and paid, say, 1,000 GEL as a tax to the budget, than, the next year, when this plant increases both the production and sales by 10%, the tax payable will become decreased by 10%. Certainly, it is the boost for both this plant and the entire economy.

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