Georgia’s Government reviews January-May 2015 budget

Georgia’s Finance Minister has outlined the January-May budget achievements at today’s Government meeting, saying the situation is "promising” in the country.

From January-May 2015, consolidate budget tax revenues amounted to 3,150,000,000 GEL, which was 85 percent of what was allocated in the Government’s six month plan and 40 percent of the annual plan. This figure exceeded 360 GEL compared to the same period of 2014.

As for expenditure, in the first five months of 2015 budget spending reached 3.6 billion GEL, which was 80 percent of the six month plan and almost 40 percent of the annual plan. So far this year 428 million GEL more was spent than in the same time in 2014.

Capital project spending acquired 360 million GEL from the state budget, which was 44 percent more compared to last year’s figures.

Budget spending for regional development and infrastructure costs amounted to about 270 million GEL, which was 91 million more than last year.

Georgia’s Finance Minister Nodar Khaduri said export figures had not changed in the reporting period.

He was directed by Georgia’s Prime Minister to introduce a corrected version of the state budget before June 10, 2015.

Today after listening to the budget report, Prime Minister Irakli Garibashvili called on Governmental bodies to activate their spending.

Under the instruction of Garibashvili, Vice Prime Minister and Economy Minister Giorgi Kvirikashvili will strictly control state agencies’ and regional budget expenditures.