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Tuesday, May 17, 2022

Georgia: Gov’t to subsidise agricultural land owners with ₾ 300 per hectare

Georgia: Georgian Premier Irakli Garibashvili announced on Monday that the Government of Georgia will support agricultural landowners by providing them subsidies with a governmental initiative offering GEL 300 ($97/€90) per hectare.

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Georgia: Georgian Premier Irakli Garibashvili announced on Monday that the Government of Georgia will support agricultural landowners by providing them subsidies with a governmental initiative offering GEL 300 ($97/€90) per hectare.

As per the reports, the Landowners, co-owners, and beneficiaries with lands ranging from 0.25 to 1.25 hectares will get the subsidy in the form of points added to their special agricultural accounts, which will allow them to buy items for their work.

Garibashvili went on to say that this programme is very important assistance for farmers as this project will support around 300,000 farmers.

The programme, with a total budget of GEL 35 million ($11.4mln/€10.5mln), aims to facilitate the timely execution of agricultural activities and have a positive impact on associated prices.

Moreover, the head of the Government noted that the state has also supported farmers who have large fields by financing the interest rate of loans taken with working capital at 9%, adding GEL 20 million ($20.5mln/€6mln) had been allocated in terms of loans since March 22 to support annual crops cultivation.

Garibashvili further stated that by the end of 2025, all municipalities in the nation would have a proper 24-hour water supply, adding that the initiative to tackle the long-standing problem would be supported with around 350 million GEL ($114 million/€105.8 million).

Furthermore, he also noted that Georgia’s foreign trade growth rate remained high in the month of March, as well as a noted “substantial increase” in the tourism sector during the reported period.

The turnover from the external trade in Georgia amounted to $3.8 billion in the month of March 2022, 

Georgian external trade turnover amounted to $3.8 billion in January-March 2022, up 38 per cent on a year-on-year basis.

The revenue generated from foreign travellers amounted to $394 in the first quarter of 2022, 

Revenue from international travellers amounted to $394 million in January-March 2022, which is an increase of nearly $340 million over the last year and a 68.1 per cent recovery as compared to 2019.

 

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