January-August 2015: State budget enjoys 823 million GEL more revenue

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 while outlining the country’s budget achievements at today’s Government meeting.

Minister Nodar Khaduri said state budget revenues totalled 6.3 billion GEL (6,304,000,000), which was 87 percent of the nine-month plan.

In the first eight months of the year tax revenues slightly exceeded 5.1 billion GEL (5,151, 200,000), which was 530 million GEL or 11 percent more than in 2014 corresponding figures. This sum was 66 percent of the annual plan and 89 percent of the country’s nine month plan.

Revenues and expenditures equalled each other and have resulted in a balanced budget this year,” Khaduri said.

Budget expenditures amounted to 6.1 billion GEL (6,100,000, 000) in the first eight months of this year, which was 83 percent of the country’s nine-month plan.

This year 660 million GEL more was spent between January and August than the same time last year. A total of 900 million GEL has already been allocated to cover the cost of capital projects, which was 32 percent higher than last year’s corresponding figures,” Khaduri added.

Meanwhile cash execution of funds allocated from the Regional Development Fund amounted to 188 million GEL.

To date, the Fund has already allocated 390 million GEL. Municipalities and autonomous republics’ budget in January-August reached 260 billion million GEL,” Khaduri said.