Irakli Garibashvili on Economic Development, IDPs, and Single Euro Payments Area

| News, Georgia

On September 3, Georgian Prime Minister Irakli Garibashvili said that despite the enormous issues facing the whole globe, Georgia has double-digit economic growth. The government leader claims that despite the challenging circumstances in the outside world, the nation has maintained peace, stability, and great economic growth. The PM said, "Today, our nation has to carry out such initiatives to create more employment, money, and prosperity for our people."

According to an announcement by the Prime Minister, up to 13,000 internally displaced households will receive new homes until 2025. Additionally, approximately 2,400 displaced households would receive flats in Tbilisi, followed by 1,700 families in Zugdidi and 720 families in Kutaisi. 7,000 households will get flats as part of the Internally Displaced Person (IDP) Resettlement Program, while the remaining 6,000 will live in rural regions.

Moreover, Garibashvili mentioned that Georgia is getting ready to join the Single Euro Payments Area (SEPA), which would enable citizens to send cashless Euro payments by credit transfer and direct debit to any location inside the European Union as well as a handful of non-EU nations. Three draught laws will be submitted to the Georgian Parliament for approval in order to reflect the necessary legislative amendments. The Prime Minister said, "Our folks would greatly benefit from this."

SEPA was first used for credit transfers in the euro area in 2008. In 2009, it was used for direct debits, and it was fully implemented by 2014 (and by 2016 in SEPA countries outside of the euro area).

Read also:

Irakli Garibashvili on Recent Wildfires and New Helicopters

Irakli Garibashvili on Georgia's Peaceful Policy, the Country's Exports and Lowering Petroleum Costs

Irakli Garibashvili on Mikheil Saakashvili and the Visas for Russian Citizens

 

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