The Georgian government will promote the growth of confidence to the national currency
The Georgian government will promote the growth of confidence to the national currency and will ensure reduction of dollarization. This is stated in the governmental program “For a strong, democratic and united Georgia”, which the Parliament of Georgia, together with a renewed staff of the government expressed a vote of confidence.
According to the program, the government will promote the existence of healthy competition among commercial banks; will be introduced deposit insurance system, which will be a reliable stimulation mechanism for the growth of deposits and savings.
In general, the monetary policy of the country will focus on the introduction of long-term targets: will be determined the main priorities of monetary and exchange rate policy, where the currency emission will correspond to the economic growth of the country.
With respect to the fiscal policy of the government document says that the state will ensure improvement of public finance management, the budget, on the one hand carry out priority areas for growth and social spending, and on the other hand help to stimulate the economy and at the same time to maintain fiscal stability of the country.
“Parallel with the increase of the expenditure part of the budget, in order to stimulate the economy may increase the fiscal deficit; although in the medium term will be saved its lowest index. In the medium and long term state will ensure the preservation of the basic macroeconomic and fiscal indicators in the indicators that will be possible to improve the assessment of rating agencies and the country will be attractive in terms of investment climate. It will be a guarantee of a stable development of the economy in the long term”- is said in a government program.
Also was promised to develop effective mechanisms for establishing budget priorities that will focus on the identification of the problems of society.
“Will be perfected composition methodology of the program budget, audit mechanisms in the management of public finances. In order to improve the budget process will be provided with effective mechanisms for the use of the findings and recommendations developed by the Service State Audit “- the document says.