Prime Minister Lado Gurgenidze presented on February 19 a 50-day action plan for the increase in foreign investment, the decrease in unemployment and the elimination of poverty.

He said a comprehensive government-proposed economic package was part of the plan. The package was approved by Parliament on its first reading on February 19.

In February, the PM said the second stage of the so-called 'cheap credits' scheme, which aims at boosting exports, would be launched. The first stage - ‘a tax credit’ for newly set up enterprises - was launched in January. Businesses established this year will receive a GEL 2,000 tax rebate over the next ten years. PM Gurgenidze also said that a project known as ‘gate to knowledge’ would begin in February – envisaging cheap credit for those studying abroad.

He also said that additional constitutional guarantees for property rights were to be introduced.

In March, the PM said the Ministry of Energy would launch a project to attract investment for the construction of small and medium-sized hydro power plants. He said the goal was to attract around EUR 1 billion.

“As a result [of this project] we expect to generate one billion U.S. dollars through the export of electricity in the next four or five years,” Gurgenidze said.

Also in March, he said, the Ministry of Healthcare and Social Welfare would provide doctors in villages throughout Georgia with new medical equipment.

The government will also start selling plots of land in March in the framework of the ‘100 new agricultural enterprises’ program, the PM said.

He also promised free fuel for farmers in March.

March will also see minimum monthly pensions rise from the current GEL 55 to GEL 70, the PM said.

In April, he said, the government would announce the winner of a tender for the lease of Poti port and an adjacent 400 hectares of land for the establishment of a free economic zone. Georgia’s first ever eurobonds issue, worth USD 500 million, is also planned for April, the PM said.

In May, PM Gurgenidze said, the third component of the ‘cheap credit program’ - envisaging credit for the best 100 business projects selected in a competition - would start.  

Also in May, 7,000 top school pupils throughout Georgia will receive laptops.

Speaking at a cabinet meeting on February 20, PM Gurgenidze told his colleagues that the 50-day action plan was a tool for public monitoring of the government. He added that the cabinet would have to make regular progress reports on the implementation of the plan.