Budget revenue increases 65.3m GEL in January y/y

Budget revenue in January 2014 encompassed 527 million GEL, which was an increase of 65.3 million GEL compared to the same period in 2013, latest the Ministry of Finance reports.

The Ministry believed the latest data showed that in the beginning of this year, Georgia faced a great increase in economy, to return it to how it was in last year’s October-December period. 

Similarly, the budget income increased by 75.4 million GEL compared to 2012 and 131 million GEL compared to 2011.

The tax revenue increased by 51.6 million GEL, which was composed of 437 million GEL in the reported period.

The Finance Ministry revealed import-related profits increased by 131.3 million GEL and comprised of 883 million GEL in January 2014.

Export returns increased by 48.6 million GEL and consisted of 277 million GEL in the reported period.

In total, the trade turnover increased by161 million GEL in the past 12 months, from January 2013 to January 2014.

Referring the latest data, the Finance Ministry believed the economy would increase by 5% in 2014.