Georgia’s Government reviews January-May 2015 budget
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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.
Georgia fulfilled its tax revenue plan and the budget also experienced a surplus, announced Georgia’s Revenue Service of the Ministry of Finance.
Georgia’s Finance Minister Nodar Khaduri says February was a "very promising month” in terms of the country’s budget development.
The Georgian Government is not going to increase taxes, but on the contrary – taxes will be reduced, announced Georgia’s Economy Minister Giorgi Kvirikashvili today.
About 540 million GEL in taxes was expected to be collected in January however the actual tax revenue reached 570.5 million GEL, according to the Budget Performance Report submitted by Georgia’s Finance Minister to the Prime Minister.
At the end of 2014 Georgia’s total debt was 66 million GEL less than expected, announced head of the country's Treasury Service Tsotne Kavlashvili at a special press conference where he presented the state budget performance report of 2014 to media.
The 2014 state budget is fulfilled with surplus Deputy Minister of Finance Giorgi Kakauridze says. Data published at the Georgian Finance Ministry's official web site mof.gov.ge confirms that both parameters, revenue and expenditure, are fulfilled.
Georgia’s state budget will be reduced by about 140 million GEL to overcome the ongoing currency crisis and to cover the cost of the June 13 deadly flood damage, which is believed to exceed 100 million GEL.
Georgia has ended the first six months of the year on a financial high – the country fulfilled its tax revenue plan and the state budget experienced a significant surplus.
The Parliament of Georgia is today discussing amendments to the state budget for 2015, introduced by the country’s Finance Ministry in response to a downgraded economic growth forecast.
Between January and August 2015, Georgia’s state budget enjoyed 823 million GEL extra income than the same period of last year, announced the country’s Finance Minister.
Georgia is ending the year 2015 on a financial high - the state budget fulfilled its revenue plan and the state budget experienced a significant surplus.