Georgia fulfils state budget in 2018
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Georgia’s state budget income as well as revenue was fulfilled by 100% this year. Photo: N. Alavidze/Agenda.ge.
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Georgia’s state budget income as well as revenue was fulfilled by 100% this year, announces the treasury service of Georgia’s Ministry of Finance.
As for the 2019 state budget, Georgia will have over 12 billion GEL in the state budget next year.
Next year’s budget is planned with a 4.5% economic growth forecast, and if the actual index is higher, the budget will be amended in 2019.
The 2019 state budget is organised into four main categories:
- Human capital – increased state investments to human capital development, namely: healthcare, education, environment, as well as agriculture that will facilitate the human capital development concept.
- Physical capital – both municipal and other types of infrastructure, irrigation systems etc.
- Financial capital outlines the state’s role in the development of small and medium-sized enterprises.
- Security – includes high defence standards and the rule of law.
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.
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).
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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 government of Georgia projects Georgia’s economy to reach 4.5 per cent growth in 2019, as determined in the 2019 state budget project.
Fiscal stability will be put first, said candidate for Minister of Finance Ivane Matchavariani today in parliament.
Pensions, disability payments and teachers’ salaries will be significantly increased in 2020, Georgian Prime Minister Giorgi Gakharia said at a special session of the government today. Gakharia said that the pension will increase by 20 GEL ($6.8/€6.2) for pensioners and for the first and second category of people with disabilities up to the age of 18.