Page 48 - GEORptJul20

(25%) and Montenegro (23.7%).
Looking only at the direct contribution of the tourism sector to GDP, the largest share is in Montenegro (11%), followed by Croatia (10.9) and Georgia (9.3%). In countries where tourism makes up a large share of GDP, governments have sought to target the industry specifically as they draw up economic stimulus plans to try to mitigate the fallout from the pandemic.
In Croatia, for example, the stimulus package worth around €4bn approved earlier this month includes measures to support companies in the tourism industry as well as those aimed at the economy as a whole. Under Georgia’s stimulus package all enterprises linked to the tourism sector will be granted income and property tax breaks until November 1, while a refund of value-added tax (VAT) for companies would be doubled to GEL1.2bn ($347mn) from GEL600mn. Individuals and tourism-related companies could be permitted to defer interest payments on bank loans for four months.
9.1.5 ​Infrastructure and construction sector news
Georgia to decline giving second Anaklia deep water port project chance to ADC
The Anaklia deep water port project is of “strategic importance” to Georgia, but the Georgian government terminated its contract with the Anaklia Development Consortium (ADC) in early 2020 and will not be giving it another chance to build the flagship infrastructure​, Georgian economy and sustainable development minister Natia Turnava has been quoted​ ​as saying by Civil.ge.
ADC this week lobbied for a resumption of the $2.5bn public private partnership (PPP) contract, terminated in January by the government after ministers said it failed to meet set capital and financing requirements and find a strategic partner. ADC claimed it could now meet all the requirements.
48​ GEORGIA Country Report ​July 2020 ​ ​www.intellinews.com