The FINANCIAL — In recent years, reinvestment rate in Georgia ranged between 200 million and 300 million USD.
However, business-friendly fiscal reforms, such as Profit Tax Reform positively influenced the reinvestment rate of the country – the First Vice Prime Minister, Minister of Economy and Sustainable Development of Georgia, Dimitry Kumsishvili noted at the press briefing.
Having reviewed the current economic parameters, Dimitry Kumsishvili focused on the increased rate of reinvestment as well. According to the Minister, by the same period of 2016, the private sector had invested 318 million USD in business while, conforming to the figures of the current year, the reinvestment rate is almost doubled to 591 million USD.
Dimitry Kumsishvili also highlighted the rates of turnover and output and noted that in the current year the turnover in private sector increased by 19% while the growth of the output accounted for 23% increase, according to Ministry of Economy and Sustainable Development of Georgia.
The First Vice Prime Minister also focused on the registrations of new companies and positively evaluated the current indicator. As Dimitry Kumsishvili emphasized, 5 468 new companies were registered in October 2017, which records the increase of 48.5% compared to the same period of the previous year.
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