Financial assistance to be issued to citizens and business on 4th stage of anti-crisis plan
Financial assistance to be issued to citizens and business on 4th stage of anti-crisis plan

The Inter-Agency Coordination Council headed by Prime Minister approved a new package in support of people and private sector on the 4th stage of an anti-crisis plan.

The budget of the new package is 1,1 billion GEL. The budget allocated in support of people is 545 million GEL, the number of beneficiaries is more than 500 thousand.

The package in support of people includes:

  • Subsidizing utility fees – 4 months (November-February). The approximate number of beneficiaries – 1 million families, budget – 270 million GEL;
  • 1 200-GEL assistance for those who lost jobs – These people will receive this amount during 6 months from January of 2021. The approximate number of beneficiaries 125 000 people, budget – 150 million GEL;
  • 300-GEL one-time financial aid – to be issued to those self-employed and individual entrepreneurs , whose activities will be stopped during December-January. The approximate number of beneficiaries 100 thousand people, budget – 30 million GEL;
  • 600-GEL assistance – for socially vulnerable families having 65-100 thousand points, to be received during 6 months in the amount of 100 GEL per month. The approximate number of beneficiaries 72 thousand families, budget – 55 million GEL;
  • 600-GEL assistance – for socially vulnerable families having 0-100 thousand points who have 3 or more children under age 16, to be received during 6 months in the amount of 100 GEL per month. The approximate number of beneficiaries 24 thousand families, budget – 15 million GEL;
  • 600-GEL assistance for persons with limited physical capabilities – 100 GEL during 6 months – The number of beneficiaries – 43 thousand, budget 27 million GEL;

Those employed persons, whose activities will be restricted in December-January, will have the opportunity to postpone their bank credit liabilities.

The package in support of business amounts 515 million GEL and includes the following:

  • Income Tax relief – Those persons who have up to 1 500 GEL per month, December –May of 2021. The approximate number of beneficiaries 33 thousand Companies, 425 thousand employees, budget – 260 million GEL;
  • Property Tax relief for tourism sector – Hotels, restaurants, to be freed from tax in 2021, budget 45 million GEL;
  • Writing off postponed 4-month income tax for 2020 – for tourism sector (hotels, restaurants), budget – 2- million GEL;
  • Subsidizing bank credit interest rates for hotels to be continued during 6 months, the approximate number of beneficiaries – 3 700 companies;
  • Micro-Grants Program – for entrepreneurs, budget 40 million GEL
  • Credit-Grant Fund – to support private sector in restructuring current credits, budget 100 million GEL.

Companies, the activities of which will be restricted in December-January, will have the opportunity to postpone their bank financial liabilities.

Leave comment