Georgia to have 12 billion GEL state budget in 2018
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Next year Georgia will have a state budget of 12 billion GEL to use for state agencies, projects, and to further the country.
The first version of the draft state budget for 2018 is already with parliament. It shows that next year’s budget will total 12,364,500,000 GEL.
This is 949 million GEL more than the 2017 budget.
The state budget assignations include the budget funds (10 billion GEL), grants (165 million GEL) and credits (1.28 billion GEL).
The total volume of state budget expenditures will be 9,504,545,000 GEL.
Earlier, Georgia’s Finance Minister Dimitry Kumsishvili summarised the fulfilment of the six-month 2017 state budget and said that due to high economic activity in the country, tax revenues of the consolidated budget have been increased.
Tax revenues reached 4.74 million GEL in six months, which is 105.4 percent of the plan,” said Kumsishvili.
Meanwhile, expenditures from the State Budget in the first six months of this year have exceeded 5.31 million GEL, which is 95 percent of the six month plan and 46.6 percent of the annual plan.
Georgia’s Finance Minister Dimitry Kumsishvili has summarised the fulfilment of the six-month 2017 state budget today.
Georgia’s economy is healthy and will develop further, says the country’s Finance Minister while presenting the draft 2017 state budget in Parliament of Georgia.
The U.S. Department of State has released the US Congressional Budget Justification for 2018, where $34.1 million is considered for Georgia.
The country's central bank says high budget deficits forecast for 2017 do not create inflation risks although it was preferable to keep the budget deficit as low as possible.
The 2018 budget for Tbilisi City Hall is about 880 million GEL, 60 million GEL more than was planned initially.
Georgian parliament has approved the country’s next year’s budget. In 2018 Georgia will enjoy a budget of 12.441 billion GEL (about $4.827/€4.108 billion*). This is 949 million GEL more than it was in 2017.
Georgia’s state budget for 2018 will be 12 billion GEL, which is 943.8 million GEL more compared to 2017. The Parliament of Georgia approved the country’s main financial document with 111 votes yesterday.
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Ministry of Development lagging behind
Over-optimistic and incorrect planning of the budget, as well as delays in the implementation of projects by construction companies and problems related to the resettlement process are the main reasons behind budget unfulfillment, said First Deputy Minister of Regional Development and Infrastructure and Chairman of Roads Department Irakli Karseladze in an interview with the Interpressnews.
What are budget priorities?
Georgian Finance Minister Ivane Matchavariani has presented the draft State Budget 2019 to the Parliament of Georgia which includes the main data and directions of the country for 2019-2022.
The 2019 budget for Tbilisi City Hall is 871,600,000 GEL – 10 million GEL more than was planned for initially, announces Irakli Zarkua of the Tbilisi City Assembly (Sakrebulo).
The 2019 budget for Tbilisi City Hall is 927,600,000 GEL – 66 million GEL more than it was in 2018. Tbilisi City Assembly (Sakrebulo) approved the city budget for 2019 yesterday.