Georgia to have 12 billion GEL state budget in 2018

Next year Georgia will have a state budget of 12 billion GEL to use for state agencies, projects, and to further the country.

The first version of the draft state budget for 2018 is already with parliament. It shows that next year’s budget will total 12,364,500,000 GEL.

This is 949 million GEL more than the 2017 budget.

The state budget assignations include the budget funds (10 billion GEL), grants (165 million GEL) and credits (1.28 billion GEL).

The total volume of state budget expenditures will be 9,504,545,000 GEL.

Earlier, Georgia’s Finance Minister Dimitry Kumsishvili summarised the fulfilment of the six-month 2017 state budget and said that due to high economic activity in the country, tax revenues of the consolidated budget have been increased.

Tax revenues reached 4.74 million GEL in six months, which is 105.4 percent of the plan,” said Kumsishvili.

Meanwhile, expenditures from the State Budget in the first six months of this year have exceeded 5.31 million GEL, which is 95 percent of the six month plan and 46.6 percent of the annual plan.