Parliament discusses a revised 2014 state budget

The Parliament of Georgia discusses a revised draft of 2014 state budget presented by the government that lowers the revenues as well as expenditures comparison to the initial draft.

In the revised draft the revenues are lower from GEL 7.37 billion to GEL 7.32 billion and expenditures from GEL 7.48 billion to GEL 7.22 billion.

The funding of healthcare, education, agriculture and infrastructure ministries are decreased.

According to the revised draft government plans to issue GEL 600 million worth of treasury bills on the domestic market next year, GEL 200 million more compared to the initial draft of budget.

The finances accumulated from treasury bills up to GEL 400 million will be used for covering budgetary expenses and repaying parts of state debt. While GEL 200 million will be placed as a deposit in commercial banks to make it available for long-term loans in national currency.

Economic growth forecast remains at 5% for next year.

A revised draft of 2014 budget priorities comparison to 2013:

1. Healthcare - 2,7 billion GEL +15%

2.Defense and Order 1,4 billion GEL -1,9%

3.Regional Development (Infrastructure and Tourism) GEL 890.8 million -3.7%

4.Education GEL 764.3 million +14.9%

5.Agriculture GEL 290 million +20.3%

6.Culture, Religious, Youth, Sports 180 million GEL +4.9%

7.Institutional Development GEL 173,1 million -7.6%

8.Economy GEL 25 million +8.8%

9.Energy GEL 103,6 million -12.8%

10.IDPS & Migrants GEL 95,5 million -27.4%

11.International Relations GEL 82,7 million 0.00%

12.Judiciary GEL 47,1 million +0.9%

13.Environment GEL 27,8 million +7.0%

14.others GEL 2,065 million -6.5%