MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

“Automotive system of excess VAT deduction has positive impact on increased economic activity,” – Giorgi Cherkezishvili, the Minister of Economy and Sustainable Development stated at the briefing held at the Government Administration. According to the Minister, within the frames of this reform, in the first 6 months 226 million GEL has already been returned, which already exceeds the indicator of 2017 and is 2.1 times higher number compared to the 6 months of the last year.

“By the end of June, there will be enough resources to return 400 million GEL. This is a significant financial resource for business, which has already resulted in the economic growth,” – the Minister of Economy and Sustainable Development commented.

According to the preliminary estimates of the GeoStat, in May 2018, compared to the corresponding period of the previous year, the real GDP growth equaled to 7.5% and the average real growth in the first five months of 2018 is 6.1%.